The total utility of a consumer diminishes whenever:
a. he or she buys an additional unit of a good.
b. his or her marginal utility decreases.
c. his or her total utility increases at a decreasing rate.
d. the last unit consumed of a particular good is distasteful or provides dissatisfaction.
e. other consumers are also purchasing the product.
d
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The government makes all economic decisions in a mixed economy
Indicate whether the statement is true or false
_____ and _____ are examples of complementary products
a. Coke; Pepsi b. Coffee; tea c. Hot dogs; hot dog buns d. Pens; pencils
The purpose of a restrictive monetary policy is to
What will be an ideal response?
Country A has experienced real Gross Domestic Product (GDP) growth of 2 percent and a population growth of 3 percent. What is county A's growth of per capita real GDP?
A. 5 percent B. 1 percent C. -5 percent D. -1 percent