Identify the Truthfulness of the Following Statements

question 49

Multiple Choice

Identify the truthfulness of the following statements. I. Ordinal utility gives us information about which basket the consumer prefers and quantitative information about the intensity of the preference.
II) Cardinal utility gives us information about which basket the consumer prefers but not about the intensity of those preferences.

• 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:

Midterm Election

Elections held midway through the term of the sitting president, where a significant number of legislative seats and other positions are contested.

Presidential Election

A process in which citizens or electors of a country vote to select the President, the head of the state government.

Congressional Seats

Positions in the U.S. Congress, divided between the House of Representatives and the Senate, allocated to represent the American people and states, respectively.

Party Whips

Party whips are officials in a political party whose primary purpose is to ensure party discipline and secure the attendance of party members for important votes.