Rational ignorance exists because voters are apathetic
Indicate whether the statement is true or false
False
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What is the unemployment rate if there are 170 million people employed, 25 million people unemployed, and 35 million not in the labor force?
A) 14.7% B) 13.7% C) 12.8% D) 10.9%
Which of the following is NOT a program designed to attack poverty?
A) Supplementary Security Income B) food stamps C) Social Security D) federal corporate income tax
Diminishing marginal utility means that as you consume more of a good, other things constant, the:
a. total satisfaction you obtain from consuming this good falls. b. total amount produced falls. c. marginal product falls. d. additional satisfaction you obtain from each additional unit of the good falls. e. total satisfaction you obtain from each extra good becomes constant.
If the Fed raises the discount rate, it:
a. forces commercial banks to call in existing loans. b. changes excess reserves into required reserves. c. changes required reserves into excess reserves. d. none of the above