The law of ________ refers to a consumer's decrease in additional satisfaction as she consumes more and more units of a good.
A. utility maximization
B. consumer choice
C. diminishing marginal utility
D. infinite demand
Answer: C
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A retailer buys goods worth $15,000 from a manufacturer and sells it for $18,250. He adds a value of ________ to the production process
A) $15,000 B) $3,250 C) $33,250 D) $18,250
Recycling rates for aluminum, paper, and glass have been increasing in the United States
a. True b. False Indicate whether the statement is true or false
If your income goes up by 10% and you increase your pedicures by 5%, then your demand for pedicures is ________.
A. income elastic B. income inelastic C. income unit elastic
Increases in autonomous expenditure induce ________ in aggregate expenditure thereby making the multiplier ________
A) further increases; greater than one B) further increases; unnecessary C) further increases; less than one D) a decrease; less than one E) a decrease; greater than one