Use the Following Two Statements to Answer This Question

question 63

Multiple Choice

Use the following two statements to answer this question. (I) In a market system, resource prices both provide incentives for the efficient allocation of resources and determine income distribution.
(II) Income and wealth are neither created nor destroyed, they are just fixed-sized pies to be allocated among individuals.

• A) Both I and II are true.
• B) Both I and II are false.
• C) I is true; II is false.
• D) I is false; II is true.

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Definitions:

Inequality

A mathematical statement indicating that two expressions are not equal, often involving signs such as > (greater than), < (less than), ≥ (greater than or equal to), or ≤ (less than or equal to).

Inequality

A mathematical relationship between two expressions that are not equal, using symbols such as <, >, ≤, or ≥.

Given Graph

Refers to a particular graph that has been presented or specified in a problem or context.

Dietician

A healthcare professional specializing in diet, nutrition, and the regulation of diet based on the needs of an individual.