Which of the following statements concerning utility as a measure for well being are false?
A) There is generally a positive relationship between income and utility.
B) It is possible to determine which of two individuals is made happier by consuming a particular market basket.
C) Utility is an abstract representation of an individual's degree of happiness.
D) Cross country studies suggest that citizens in wealthier countries are happier than citizens in poorer countries.
Correct Answer:
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