The federal income tax on wages is the largest source of revenue for the federal government

The income statement indicates how revenue is transformed into net income

Indicate whether the statement is true or false

After browsing several pairs of shoes, Bob buys a pair of Nike running shoes. Economists would say that:

A. Bob is revealing his strong distaste for New Balance running shoes. B. Bob is revealing he will always choose Nike over any other shoe brand. C. Bob will get more utility per dollar from the Nike running shoes than any other in the store. D. Bob made a poor choice, if he really prefers Adidas.