Is calling a voter rationally ignorant the same as calling her irrational? Explain
These are clearly not the same. To be irrational is to not act in your own self-interest. To be rationally ignorant implies that you are acting rationally by being uninformed. In this case, the costs of being informed exceed the benefits.
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When the rate of interest in the economy increases
A) real Gross Domestic Product (GDP) will increase. B) the market price of existing bonds will fall. C) the asset demand for money will increase. D) the transaction demand for money will increase.
The United States has a trade ________ with all its major trading partners and a trade ________ with every region of the world except for Latin America
A) deficit; deficit B) deficit; surplus C) deficit; balance D) surplus; deficit E) surplus; surplus
A tannery discovers a technology that makes it cheaper to reduce the air pollution it generates in making paper. On a graph of the optimal level of air quality, the use of the new technology would be represented by
a. a leftward shift of the marginal social cost curve b. a rightward shift of the marginal social cost curve c. movement to the right along the marginal social cost curve d. movement to the left along the marginal social cost curve e. a downward shift of the marginal net benefit curve
Human capital is defined as the:
A. amount of capital that is operated by workers in a firm. B. amount of capital that is operated by workers in an industry. C. amount of workers a firm employs. D. set of skills, knowledge, experience, and talent that determine the productivity of workers.