Refer to Table 19

question 111

Multiple Choice

Refer to Table 19.1. For Josh, diminishing marginal utility begins

• A) After the first slice of pizza.
• B) After the third slice of pizza.
• C) After the second slice of pizza.
• D) To increase after the first slice of pizza.

---

Definitions:

Check Clearing

The process by which banks settle transactions by transferring money from the check writer's account to the recipient's account.

Federal Funds Rate

The interest rate at which banks lend reserve balances to other banks overnight, on an uncollateralized basis.

Discount Rate

The interest rate charged by central banks for short-term loans to commercial banks.

Chinese Government

The political leadership and governing bodies of the People's Republic of China, comprising the Communist Party, the state institutions, and the military.