If marginal utility is positive but diminishing, as more units of a good are consumed, then the total utility from the good must be
A) falling.
B) positive and rising at an increasing rate.
C) positive and rising at a decreasing rate.
D) positive and rising at any rate.
C
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The slope of a producer's production possibilities frontier represents the producer's
A) sunk costs of production. B) average costs of production. C) marginal costs of production. D) total costs of production.
Beginning in December 2007, the Fed began cutting the federal funds rate from 4.25% to less than 1%. During this time, it was engaged in ________ monetary policy in order to reduce the threat of a ________ in the US economy
A) expansionary; stagflation B) contractionary; stagflation C) expansionary; recession D) contractionary; recession
Which of the following would be considered an investment in human capital?
a. education b. a teacher's blackboard c. the purchase of a new computer to enhance labor productivity d. All of the above are correct.
The price level rises if either
a. money demand or money supply shifts rightward. b. money demand shifts rightward or money supply shifts leftward. c. money demand shifts leftward or money supply shifts rightward. d. money demand or money supply shifts leftward.