Voters have an incentive to be rationally ignorant of most political issues because _____
a. all candidates target the median voter
b. political information is costly
c. they are likely to be canceled out by another uninformed voter
d. their vote is highly unlikely to change the outcome
c
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To achieve long-run equilibrium in an economy with a recessionary gap, without the use of stabilization policy, the inflation rate must:
A. not change. B. increase. C. decrease. D. either increase or decrease depending on the relative shifts of AD and AS.
The market system works by getting each person, motivated by his or her own self-interest, to produce products for other people
Indicate whether the statement is true or false
An economy with population 500 million has a research and development productivity of 0.0005, and its output per person has risen from one period to the next along its balanced growth path from 350 to 362.5
The fraction of this economy's population engaged in research and development is ________. A) 14% B) 2.5% C) 3.6% D) 10 %
Recently, consumption has comprised approximately
A) one-half of GDP. B) two-thirds of GDP. C) three-fourths of GDP. D) four-fifths of GDP.