Which of the Following Has Been the Biggest Contributor to Bouts

question 25

Multiple Choice

Which of the following has been the biggest contributor to bouts of inflation over the last 50 years?

• A)the inaugurations of new presidents
• B)technological innovations
• C)soaring prices for energy
• D)wars or other significant military conflicts -Consider This: Souring prices for energy have been mostly responsible for inflation.

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Definitions:

Marginal Utility

The supplementary enjoyment or value obtained by consuming an extra unit of a good or service.

Total Utility

The overall satisfaction or happiness a consumer derives from consuming a certain quantity of goods and services.

Marginal Utility

The extra benefit or utility gained from acquiring or consuming an additional unit of a product or service.

Utility Per Dollar

The amount of satisfaction or usefulness gained per unit of currency spent, used to measure consumer value.