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In any business, when the cost of resources rise, the price of buying the commodity will also be high, this is because when it cost you much to produce a commodity, you will end up charging a higher price when selling it. Failure to do so may lead to making loses. The opposite is also true, when the cost of resources fall, the pricing will also be less.
Answer:
Republican’s opposite ideology to the democrat’s was the principal reason why there were objections about the "stimulus packages".
Explanation:
Voting against the stimulus was an overall winning and correct way of managing their position in the situation, if the package succeded reviving the economy, it won’t be in short term as it would be expected and demanded by the majority of the population since there was a major amount of money invested ($580 Billion) in this stimulus and if it failed they would have had the winning side of the argument and say a big “I told you so” to the democrats.
Also, the opposite votes promoted by the republicans was their way of showing unity, discipline and loyalty to their party, and how they cannot be persuaded by charm and show skepticism instead about such a proposal made by their rival party.
Answer: Risk averse
Explanation:
A person with a diminishing marginal utility of income will derive less utility from income as income increases. A risk averse person is one who would rather avoid risk but still prefers a high income.
Such a person will have a diminishing marginal utility in income because income increases more when there is more risk. A risk averse person does not want that risk and so will go for a lower income which means that they don't want more income as it is riskier to them.