Examlex
The Business Cycle Dating Committee,a part of the ________,officially decides when a recession begins and ends.
Convex Preferences
Consumer preferences that signify a desire for diversified bundles of goods, represented by convex-shaped indifference curves.
Indifferent
A term used in economics and decision theory to describe a situation where an individual or consumer does not prefer one option over another.
Diminishing Marginal
The principle that the marginal benefit of using or consuming one more unit of a good or service decreases as its quantity increases.
Rate
The speed at which a certain event occurs, often expressed as a quantity over time.
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