Adam Smith's Diamond-Water Puzzle

question 3

Multiple Choice

Adam Smith's diamond-water puzzle

• A)can be resolved by distinguishing between marginal and total utility.
• B)occurs because diamonds have no utility.
• C)occurs because scarcity increases total utility.
• D)will likely never be resolved with existing economic tools.

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Definitions:

Reference Checks

The process of contacting previous employers, educators, or other references to verify a job applicant's credentials and assess their suitability for a role.

Misrepresentation

The act of deceitfully presenting false information as the truth or misleading someone about the characteristics or nature of something.

Negligence

The failure to take reasonable care to avoid causing injury or loss to another person.

Sexual Harassment

Unwelcome sexual advances as defined by the EEOC.