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Author Question: For a risk-averse individual, as wealth increases, total utility ________ and marginal utility ... (Read 148 times)

skymedlock

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on: Jun 29, 2018
For a risk-averse individual, as wealth increases, total utility ________ and marginal utility ________.
 
  A) increases; increases
  B) increases; decreases
  C) decreases; increases
  D) decreases; decreases

Question 2

What is purchasing power parity?
 
  What will be an ideal response?


Chou

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Reply #1 on: Jun 29, 2018
Answer to Question 1

B

Answer to Question 2

Purchasing power parity means equal value of money, that is, the exchange rate adjusts so that one currency can buy the same amount of goods and services as another currency.


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