If a Consumer Always Buys Goods Rationally, Then

question 56

Multiple Choice

If a consumer always buys goods rationally, then

• A)the total utilities of the different goods consumed will be equal.
• B)the average utilities of the different goods consumed will be equal.
• C)the marginal utility per dollar spent on all goods will be equal.
• D)the marginal utility of the different goods consumed will be equal.

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Definitions:

Tyranny

The oppressive and cruel use of power by a ruler or governing body, often without the consent of the governed.

Shays' Rebellion

An armed uprising in Western Massachusetts in 1786-1787, led by Daniel Shays, protesting fiscal policies and perceived economic injustices.

Debt-Ridden Farmers

Farmers who are heavily burdened with debt, often as a result of loans taken out to cover the costs of farming operations.

Foreclosures

Legal process by which a lender takes control of a property due to failure of the borrower to meet the terms of the mortgage.