The choice of a voter to remain uninformed because the marginal cost of obtaining information is greater than the marginal benefit from obtaining knowledge is called:
A. irrational ignorance.
B. rational ignorance.
C. collective interest.
D. choice.
Answer: B
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The table above shows the exchange rates between various currencies and the U.S. dollar. Between 2015 and 2016, the U.S. dollar ________ against the Euro and ________ against the Japanese yen
A) depreciated; depreciated B) appreciated; appreciated C) appreciated; depreciated D) depreciated; appreciated
The poverty rate for the elderly has declined noticeably since the mid 1960s
Indicate whether the statement is true or false
Which of the following is true about U.S. history prior to the 1950s?
a. The inflation rate remained constant during this period b. Cost-push inflation led to depressions, which were followed by slowly-rising price levels. c. The price level remained constant during this period. d. Major wars resulted in high inflation rates, after which the inflation rate tapered off. e. Major wars resulted in high inflation rates that were usually followed by deflation.
The two basic ways to define money are
A. the transactions approach and the fiduciary approach. B. the cash approach and the M3 approach. C. the liquidity approach and the store of value approach. D. the transactions approach for M1 and the liquidity approach for M2.