MATCHING Match the Person or Term with the with the Correct

question 28

Multiple Choice

MATCHING
Match the person or term with the with the correct description.
-Abigail Adams

• A)black poet
• B)Pennsylvania radical
• C)Thoughts on Government author
• D)burned forty Indian towns
• E)America's first Roman Catholic bishop
• F)director of congressional fiscal policy
• G)The Selling of Joseph author
• H)wrote of universal freedom,even for blacks
• I)drafted Virginia's "Bill for Establishing Religious Freedom"
• J)"Remember the ladies"
• K)The Wealth of Nations author
• L)Mohawk Indian

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Definitions:

Loss of Value

The decrease in worth of an asset or investment over time, often due to market fluctuations or the asset's deterioration.

Total Utility

The overall satisfaction or happiness a consumer derives from consuming a certain quantity of a good or service.

Marginal Utility

is the added satisfaction or benefit a consumer gets from consuming one additional unit of a good or service.

Utility-Maximizing Rule

The principle that to obtain the greatest total utility, a consumer should allocate money income so that the last dollar spent on each good or service yields the same marginal utility (MU). For two goods X and Y, with prices Px and Py, total utility will be maximized by purchasing the amounts of X and Y such that MUx/Px = MUy/Py for the last dollar spent on each good.