The additional benefit to a consumer from consuming one more unit of a good or service is the marginal benefit
Indicate whether the statement is true or false
TRUE
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The foundational principle that makes insurance companies work is called:
A. risk pooling. B. risk assignment. C. catastrophic causation. D. risk analysis.
Long-term contracts become longer:
A. when spot markets work well. B. when the exchange environment is more complex. C. when marginal costs are declining. D. when specialized investment becomes more important.
If OPEC raises the price of oil and production costs increase, this may cause
A. Demand-pull inflation. B. Super-pull inflation. C. Cost-push inflation. D. Hyperinflation.
The self-correcting tendency of the economy means that falling inflation eventually eliminates:
A. exogenous spending. B. recessionary gaps. C. expansionary gaps. D. unemployment.