You Are Trying to Decide How to Spend Your Last

question 83

Multiple Choice

You are trying to decide how to spend your last lunch dollar.You should use that dollar to buy more of

• A)the item that costs the least.
• B)the item that you have already consumed the most of.
• C)the item that will give you the greatest marginal utility per dollar spent.
• D)the item from which you have gained the greatest total utility already.

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Definitions:

Function Of Money

The function of money includes serving as a medium of exchange, a unit of account, a store of value, and sometimes, a standard of deferred payment.

Federal Reserve

The central banking system of the United States, responsible for setting monetary policy, issuing currency, and supervising and regulating banks.

Money Supply

The overall level of financial resources available in an economy at a specific period, consisting of cash, coins, and funds in checking and savings accounts.

Chairman

The highest-ranking officer in a board of directors, responsible for leading the board's meetings and strategic direction.