A line that rises from left to right has a positive slope.
Answer the following statement true (T) or false (F)
True
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The paradox of value between diamonds and water is explained by the fact that the
A) total utility of diamonds exceeds the total utility of water. B) marginal utility of diamonds exceeds the marginal utility of water. C) total utility of diamonds exceeds the marginal utility of water. D) marginal utility of diamonds exceeds the total utility of water.
One way investment banks differ from commercial banks is that investment banks
A) do not take in deposits. B) lend exclusively to households. C) only buy and sell mortgages. D) trade only in foreign exchange markets.
If the economy is currently experiencing a high unemployment rate, the greatest cost is
a. extra government spending b. rewarding those who do not work but collect government benefits c. lost output d. the cost of job searching e. the extra cost of funding job fairs
In the long run, the inflation rate depends primarily on the growth rate of the money supply
a. True b. False Indicate whether the statement is true or false