"In two hours the polls will close. I know I should probably vote, but it is raining, and besides, there is a basketball game on TV tonight, so I'll just stay in." This person is exhibiting
A) median voter preferences.
B) rational ignorance.
C) decision making based on cost-benefit considerations.
D) logrolling.
C
You might also like to view...
Suppose there are five goods in the economy, A-E. The current-year quantity of each is 10A, 20B, 30C, 40D, and 50E. Current-year prices are $1 for each unit of A, $2 for each unit of B, $3 for each unit of C, $4 for each unit of D, and $5 for each unit of E. Base-year prices are $1 for each good. Real GDP in the current year equals
A) $100. B) $130. C) $150. D) $180. E) $550.
Using Figure 1 above, if the aggregate demand curve shifts from AD3 to AD2 the result in the long run would be:
A. P1 and Y2. B. P2 and Y1. C. P3 and Y1. D. P3 and Y2.
Hourly wages of employees not under guaranteed contracts would be an example of __________ costs.
Fill in the blank(s) with the appropriate word(s).
Market failure occurs in natural monopolies because
A. Consumers are not willing to pay the price that the monopolist charges. B. The monopolist fails to maximize profits. C. The monopolist charges a price lower than marginal cost. D. Consumers get inaccurate information about the opportunity cost of the product.