If Consumers Attempt to Buy More Goods Than the Economy

question 88

Multiple Choice

If consumers attempt to buy more goods than the economy can produce,the result is

• A)Unemployment.
• B)Demand-pull inflation.
• C)Cost-push inflation.
• D)The wealth effect.

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Definitions:

Marginal Utility

The extra pleasure or benefit gained by a person from consuming one more unit of a product or service.

Breast Milk

The milk produced by human breasts or mammary glands, specifically designed to feed babies and infants, containing essential nutrients for development.

Demand Curve

A visual chart that illustrates how the demand for a product or service, as indicated by the quantity consumers are willing to purchase, varies with price changes over a specific timeframe.

Life Threatening Disease

A severe health condition that has a high probability of causing death.