Which of the Following Statements Is Incorrect

question 86

Multiple Choice

Which of the following statements is incorrect?

• A) During the 1920s, it was widely assumed that the federal government would play a small role in our lives.
• B) From the 1930s to the 1970s, it was generally believed that the federal government should try to solve social and economic problems.
• C) Interest group politics often produces decisions about which the public is uniformed.
• D) No simple theory of politics is likely to explain both the growth and cutback of federal power.
• E) None of the above is True.

Apply the concept of budget constraints to consumer choices.

Utilize mathematical optimization to solve for consumer equilibrium.

Understand the principle of diminishing marginal utility.

Analyze consumption choices with specific utility functions.