A state of rational ignorance
A) is a reflection of too little education.
B) makes sense only if information is a free good.
C) exists only in ideal representative democracies.
D) makes sense when the costs of becoming informed are greater than the benefits.
E) none of the above
D
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The Patient Protection and Affordable Care Act (ACA) is scheduled to be fully implemented by 2019, at which point
A) more than 30 million additional individuals are expected to have health care coverage. B) all hospitals in the United States will be taken over by the federal government. C) private health insurance companies will no longer exist in the United States. D) current budget cuts are expected to have completely offset the cost of the program.
The majority of federal government spending on income transfers would be classified as welfare
Indicate whether the statement is true or false
If the demand for loanable funds shifts right, then
a. the real interest rate and the equilibrium quantity of loanable funds both fall. b. the real interest rate falls and the equilibrium quantity of loanable funds rises. c. the real interest rate and the equilibrium quantity of loanable funds both rise. d. the real interest rate rises and the equilibrium quantify of loanable funds falls.
Refer to the information provided in Figure 4.5 below to answer the question(s) that follow.
Figure 4.5Refer to Figure 4.5. If the United States eliminates all tariffs on CD-Rom drives, which of the following would occur?
A. The price of CD-Rom drives in the United States would be $15 per CD-Rom drive, and the United States would import 9 million CD-Rom drives. B. The price of CD-Rom drives in the United States would be $15 per CD-Rom drive, and the United States would import 3 million CD-Rom drives. C. The price of CD-Rom drives in the United States would be $25 per CD-Rom drive, and the United States would import 3 million CD-Rom drives. D. The price of CD-Rom drives in the United States after the U.S. government eliminated all tariffs on imported CD-Rom drives cannot be determined from this information.