The Consumer Price Index was 115 one year and 120 the next year. The rate of inflation from one year to the next was approximately:
A. 2.2 percent.
B. 3.4 percent.
C. 4.3 percent.
D. 2.9 percent.
Answer: C
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April lives in a heavily Democratic voting community. Every election, the Democratic candidates win by a large margin. Since April believed that she already knew what the outcome would be, she has not sought out candidate information or voted for the past few elections. Ben tells her she has displayed rational ignorance. What does Ben mean?
a. April is really showing a lack of intelligence by not getting involved. b. From April’s perspective, it makes sense not to waste her valuable time voting. c. April is not a mind reader and does not really know who will win the elections. d. April likes to make excuses and rationalize her inaction on important matters like voting.
Scarcity implies that people must
A) be miserable. B) be selfish. C) make choices. D) not be selfish.
According to the law of demand, when the price of gas rises, Question 26 options:
A. people will drive more. B. oil refining companies record financial losses. C. car sales increase. D. people decrease the quantity of gas demanded, perhaps by driving less.
Contrast the factors that underlie the down sloping resource demand curve with those which underlie the down sloping product demand curve
What will be an ideal response?