"Consumption possibilities are limited by total utility." True or false? Explain
Indicate whether the statement is true or false
False. Consumption possibilities are limit by the consumers' income and by the prices of goods and services they buy. Total utility does not limit consumption, it is a measure of total benefit that consumers get from consumption of goods and services.
Economics
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Resources employed to persuade government to redistribute income and wealth to special interests are unproductive
a. True b. False
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Since the U.S. is organized as a market economy, the government sector does not play any role in economic activity
a. True b. False Indicate whether the statement is true or false
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