Rational ignorance means
A) ignorance is rationed.
B) the benefit from some information is not worth the cost of collecting it.
C) some people do not understand rationality.
D) the information is unavailable.
B
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The materials balance model
a. captures only environmental pollution b. explicitly illustrates both the flow of resources and the flow of residuals c. illustrates both the money and real flows d. all of the above e. (b) and (c) only
Holding all other influences constant, the quantity of labor supplied in a given time period depends
A) directly on the real wage rate so that a higher real wage increases the quantity of labor supplied. B) inversely on the real wage rate so that a higher real wage decreases the quantity of labor supplied. C) on the money wage rate not the real wage rate. D) directly on the quantity of labor demanded. E) inversely on the quantity of labor demanded.
If a firm is producing at its minimum efficient scale, increasing its output slightly will lead to diseconomies of scale
a. True b. False
Subprime mortgage is a mortgage for a borrower with a good credit rating
Indicate whether the statement is true or false