The rational-ignorance effect refers to which of the following scenarios?
What will be an ideal response?
The lack of incentive voters have to become well-informed about candidates and issues because their vote is unlikely to affect the outcome of an election.
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The MP Curve ________
A) demonstrates how central banks respond to changes in inflation with changes in the interest rate B) shows how changes in interest rates affect equilibrium output C) explains short run fluctuations in output and inflation D) all of the above E) none of the above
Refer to the table below. Which drug should the senior manager not pursue?
The senior manager of Rx Pharmaceuticals needs to decide which of three drugs the company should consider developing. The estimated profit for each of the drugs differs depending on the market conditions when the respective drugs are introduced to the market. The above table summarizes the estimated profit for each drug under each of the three market conditions; Good, Fair, and Poor.
A) Drug Y
B) Drug X
C) Drug Z
D) all of the drugs
Which of the following is NOT a characteristic of the capitalist form of economic organization?
A. Central planning. B. A reliance on decentralized market processes for resource allocation purposes. C. Private ownership of productive resources. D. All decisions are made by the government.
Which of the following statements is true?
A. Comparative advantage requires absolute advantage. B. Absolute advantage implies comparative advantage. C. Comparative advantage does not require absolute advantage. D. Absolute advantage requires comparative advantage.