If diminishing marginal utility holds, and a person consumes less of a good, then all else being equal
a. the price of the good will rise
b. total utility will rise
c. marginal utility will rise
d. expenditure on the good will increase
e. marginal utility will decline
C
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When the Fed embarked on a policy known as quantitative easing, they
A) reduced the required reserve ratio by one-quarter point per month for 12 months. B) bought longer-term securities than are usually bought in open market operations. C) opened up lending to primary dealers, commercial banks, and investment banks. D) slowly lowered the federal funds rate target until it was equal to zero.
The domestic currency price of a representative foreign expenditure basket is
A) P, the domestic price level. B) E, the nominal exchange rate. C) P times E, the domestic price level times the domestic price level. D) P , the foreign price level. E) P times E, the foreign price level times the nominal exchange rate.
As third-party payments and government expenditures on healthcare increased following the passage of Medicare and Medicaid,
a. total expenditures on healthcare declined. b. the incentive of consumers to economize on their use of healthcare services increased. c. the incentive of suppliers to provide healthcare services at a low cost increased. d. both the prices of healthcare services and total expenditures on those services increased rapidly.
What are the distinctions made in the text among the terms “hypotheses,” “theories,” “laws,” and “principles”?
Please provide the best answer for the statement.