Which of the Following Statements Is TRUE

question 211

Multiple Choice

Which of the following statements is TRUE?

• A) Utility units are observable.
• B) Total utility is equal to marginal utility.
• C) Utility is gained whenever someone wants a good.
• D) Marginal utility theory assumes that marginal utility diminishes as more of any good is consumed.

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Definitions:

Recessions

Economic downturns marked by decreasing industrial production, employment, and sales, often lasting from a few months to more than a year.

Frictional Unemployment

The short-term unemployment that arises from the process of workers moving between jobs or into the labor market.

Voluntary Quits

The act of employees leaving their job out of their own volition, often indicative of a strong job market or better opportunities elsewhere.

Job Seekers

Individuals actively looking for employment or exploring the job market.