Economists call the fact that the general public has little incentive to become informed about most political issues _____
a. rational ignorance
b. irrational voting
c. a diminishing political marketplace
d. cyclical political institutions
a
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Specialization and international trade will
A. make a nation consume a combination on its production possibilities frontier. B. allow a nation to consume beyond its production possibilities frontier. C. move a nation to a point inside its production possibilities frontier. D. result in a rightward shift of a nation's production possibilities frontier.
A monopolistically competitive firm operates on the ____ of their average total cost curve, where marginal cost is ____ average total cost
a. declining portion; above b. rising portion; above c. rising portion; below d. declining portion; below
Which of the following is NOT counted as an economic resource?
a. Mental abilities of labor. b. Money supply. c. Entrepreneurship. d. Physical labor. e. All of the above are included.
Which of the following is an example of paradigm innovation:
A. Windows computer operating system B. Energy-saving light bulbs C. The latest model of the Honda Civic D. Rechargeable batteries