The rational-ignorance effect is a result of
What will be an ideal response?
the expectation of individual voters that their vote will not be decisive.
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Apple's decision in 2002 to focus on developing a smartphone rather than a tablet computer exemplifies the
A) refusal of firms to invest in more than one project where unlimited resources are involved. B) trade-off that firms face due to limited resources. C) refusal of firms to invest in more than one project where limited resources are involved. D) trade-off that firms face due to unlimited resources.
The value of human capital can decrease when:
A. machines can be taught to do what people used to have to do. B. someone forgets how to do something that was valuable in his work. C. the skills someone possesses are no longer needed. D. All of these are examples of a decrease in human capital.
A bond has a face value of $10,000, a price of $12,000, and coupon payments of $2000 for two years. The coupon rate of this bond is
A) 10%. B) 16.7%. C) 20%. D) 30%. E) none of the above
The manner in which one oligopolist reacts to a change in price, output, or quantity on the part of another oligopolist in the industry is known as
A) a positive-sum game. B) the reaction function. C) a noncooperative game. D) a zero-sum game.