Comment on the following statement: "Diminishing marginal utility means that total utility falls when an additional unit of a good is consumed."
What will be an ideal response?
That statement is not true. Diminishing marginal utility means that marginal utility falls when an additional unit of a good is consumed.
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At the equilibrium point of a market,
a. supply equals demand. b. neither demanders nor suppliers are satisfied. c. the quantities supplied and demanded are equal. d. suppliers will refuse any price increases offered by demanders.
An economic model is a detailed version of an economic environment
Indicate whether the statement is true or false
The New Deal in U.S. history is that period during the Great Depression in which American "capitalism" is redefined and the role of the federal government in the economy fundamentally changes forever
Indicate whether the statement is true or false
It is the responsibility of the Trading Desk at the Federal Reserve Bank of New York to implement policies in the form of
A) changes in the spread between the federal funds rate and the discount rate that are consistent with rules established by the twelve Federal Reserve bank presidents. B) variations in reserve requirements that are consistent with the announcements by the Chair of the Fed's Board of Governors. C) changes in foreign exchange rates that are consistent with policies established by the Secretary of the Treasury. D) buying or selling government securities that are consistent with the FOMC Directive.