Which of the Following Statements Is FALSE, with Respect to What

question 398

Multiple Choice

Which of the following statements is FALSE, with respect to what economist Adam Smith called the diamond-water paradox?

• A) The total utility of water greatly exceeds the total utility derived from diamonds.
• B) Total utility does not determine what people are willing to pay for a unit of a particular commodity; marginal utility does.
• C) The demand for water is much smaller than the demand for diamonds.
• D) There are relatively few diamonds, so the marginal utility of the last diamond consumed is relatively high.

---

Definitions:

Cognitive-Behaviorist Approach

A therapeutic strategy that combines the understanding of cognitive processes and behavioral techniques to modify dysfunctional thoughts and behaviors.

Locus of Control

A psychological concept referring to the extent to which individuals believe they have control over the events affecting their lives.

Parental Behavior

Actions and attitudes exhibited by parents towards their offspring, which significantly influence a child's development.

Positive Reinforcement

A technique in behavior modification where the introduction of a desirable stimulus strengthens the likelihood of a behavior.