As a rule, as a consumer acquires more and more of a good, the marginal utility declines
a. True
b. False
Indicate whether the statement is true or false
True
You might also like to view...
Which of the following is true of the 2008 Troubled Asset Relief Program?
A) It was a contractionary fiscal policy. B) It was a contractionary monetary policy. C) It was a mix of monetary and fiscal policies. D) It mainly aimed at reducing inflation.
In a market where the equilibrium price is $7, any price higher than $7 would cause
a. a balanced demand and supply b. an excess supply c. an excess demand d. none of the above
The delay between the time at which an event occurs and the time at which policymakers become aware of it is called
A) the impact lag. B) the implementation lag. C) the government lag. D) the recognition lag.
Which is considered to be an economic resource by economists?
A. Rent B. Labor C. Money D. Wages