Why do many prospective voters choose to watch sports on television rather than watching the news or political roundtables? In your answer, be sure to mention the role played by rational ignorance
Rational ignorance is the state of not acquiring information because the costs of acquiring that information are greater than the benefits. A prospective voter who chooses not to inform herself about the issues may feel that the costs involved with obtaining the information about the relevant issues exceed the benefits accrued from obtaining that information.
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In the balance of payments accounts, changes in U.S. official reserves are recorded in the
A) international currency account. B) current account. C) international reserves account. D) official settlements account. E) capital and financial account.
Describe the Asian financial crisis as it unfolds beginning with the devaluation of the Thai currency in July 1997, followed by the Malaysian, Indonesian and South Korean crises
As part of your answer, elaborate on the Malaysian response to the crisis versus its troubled neighbors responses.
In the Keynesian model, liquidity preference refers to the
A) demand for capital. B) demand for consumer goods. C) demand for money. D) money supply.
By focusing on the short-run adjustments of aggregate demand, Keynesian economics risks _____________ the long-term causes of economic growth or the natural rate of unemployment that exists, even when the economy is producing at potential GDP.
a. overlooking b. fueling c. minimizing d. increasing