________ is the additional satisfaction a person receives from consuming an extra unit of a good
A) Total utility
B) Marginal utility
C) Diminishing marginal utility
D) Preferences
B
You might also like to view...
Refer to the production possibilities frontier in the figure above. Which of the following movements requires the largest opportunity cost, in terms of good Y forgone, per extra unit of good X?
A) from point a to point b B) from point b to point c C) from point c to point d D) from point d to point e
The above figure depicts a
A) positive non-linear relationship between age and the number of hamburgers purchased per year. B) negative non-linear relationship between age and the number of hamburgers purchased per year. C) positive linear relationship between age and the number of hamburgers purchased per year. D) negative linear relationship between age and the number of hamburgers purchased per year.
Earnings of some highly skilled or highly specialized persons can be classified as economic rents
a. True b. False Indicate whether the statement is true or false
Monetizing the debt has what effect on the economy?
a. slow increase in AS with steady inflation b. rapid increase in AD with an increase in inflation c. rapid increase in AS with a drop in inflation d. decrease in AD with an increase in inflation