The law of diminishing marginal utility helps to explain the direct relationship between price and quantity supplied
Indicate whether the statement is true or false
False
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Answer the next question based on the following list of factors that are related to the aggregate demand curve. 1) Real-Balances Effect2) Household Expectations3) Interest-Rate Effect4) Personal Income Tax Rates5) Profit Expectations6) National Income Abroad7) Government Spending8) Foreign Purchases Effect9) Exchange Rates10) Degree of Excess CapacityA change in net export spending would most likely be caused by changes in ________.
A. 5 and 6 B. 2 and 3 C. 7 and 8 D. 6 and 9
Which of the following is (are) price discrimination?
i. charging different prices based on differences in production cost ii. charging business flyers a higher airfare than tourists iii. charging more for the first pizza than the second A) i only B) ii only C) ii and iii D) i and iii E) i, ii, and iii
How do you think each of the following would affect the unemployment rate?
a. The Fed increases the money supply and engineers an unexpected increase in the rate of inflation from 2 percent to 5 percent. b. The rate of inflation remains stable at 2 percent over a five-year period, as expected. c. There is an unexpected decrease in the rate of inflation from 10 percent to 3 percent.
A large portion of foreign aid from IACs to DVCs is provided on the basis of:
A. Economic considerations B. Geographical considerations C. Humanitarian considerations D. Politico-military considerations