An individual's demand curve slopes down because
A. the value of the marginal utility falls as the price falls.
B. marginal utility falls as price falls.
C. of the law of diminishing marginal utility and the rule of equal marginal utilities per dollar.
D. of the rule that the marginal utility of the last unit must equal the price.
Answer: C
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the intersection of the aggregate demand and aggregate supply curve determine......(2)
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The dire predictions about the underfunded nature of Social Security, Medicare, and state and local pensions could be wrong because
A. interest rates may turn out to be higher in the future. B. taxable incomes may turn out to be lower than they are currently predicted to be. C. modest changes to the programs could be enacted soon. D. unemployment rates may turn out to be higher than they are currently predicted to be.
The supply of labor is determined by the:
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One reason for the huge investment by China into the US economy is the:
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