Rational ignorance would imply that it is in a voter’s best individual interest to ______.
a. spend time informing others about candidates and their positions
b. be fully informed about candidates and their positions
c. learn only the basics about candidates and their positions
d. prevent others from learning about candidates and their positions
c. learn only the basics about candidates and their positions
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If both the supply and demand curves shift to the left, then we can conclude that there will be
A. an increase in the equilibrium quantity sold. B. a decrease in the equilibrium quantity sold. C. an increase in the equilibrium price. D. a decrease in the equilibrium price.
The table above shows the total utility from the two goods Freddy likes to consume. If Freddy has consumed 4 fruit drinks and then decides to drink another
A) his total utility will increase. B) the marginal utility from the 5th drink equals 30. C) the marginal utility from the 5th drinks equals 50. D) Both answers A and B are correct.
Using Scenario 2 what would be the number of points that the testing company would have to award to make students indifferent between guessing and not guessing even when the student has eliminated three of the answers if it still wishes to impose a
five point penalty for guessing incorrectly. Would this be any different than awarding one point for correct answers and zero points for wrong answers?
When the interest rate is R, the formula for finding the value of a current amount $M one year from now is
A) M (1 + R/100). B) M (1 + R). C) M / (1 + R). D) M / R. E) M / (100R).