Diminishing Marginal Utility of Wealth Implies That the Utility Function

question 70

Multiple Choice

Diminishing marginal utility of wealth implies that the utility function is

• A)upward-sloping and has decreasing slope.
• B)upward-sloping and has increasing slope.
• C)downward-sloping and has decreasing slope.
• D)downward-sloping and has increasing slope.

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Definitions:

Cognitive-behavior Therapy

A psychotherapeutic approach that addresses dysfunctional emotions, behaviors, and cognitions through a goal-oriented, systematic process.

Panic Disorder

An anxiety disorder in which a person experiences recurring panic attacks, periods of intense fear, and feelings of impending doom or death, accompanied by physiological symptoms such as rapid heart rate and dizziness.

Cultural Mismatch

A situation where there is a discordance between an individual's cultural background and the culture of the environment they are in, often leading to challenges in adaptation.

Cultural Differences

Variations in the practices, values, and goals shared by groups of people due to their geographical, social, or ethnic backgrounds.