Bart spends hours studying issues and votes in every election, hoping he may change something. Craig learns the basics about each candidate and votes if he feels the election will be close. Doug knows nothing about elections, has never voted, and has never thought about elections or why he behaves this way. Eugene promotes socialist candidates and votes for socialists in every election as a matter of principle, even though there is usually no chance of them winning. Which of these four people best demonstrates the concept of rational ignorance?
a. Bart
b. Craig
c. Doug
d. Eugene
b. Craig
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A bank faces a required reserve ratio of 5 percent. If the bank has $200 million of checkable deposits and $15 million of total reserves, then how large are the bank's excess reserves?
a. $0. b. $5 million. c. $10 million. d. $15 million.
The form of public debt that matures in 30 years is the
a. Treasury certificate of deposit b. Treasury bill c. Treasury note d. Treasury bond e. U.S. savings bill
Regulations to prevent Usury are meant to
A. limit consumption of depletable resources. B. control rents from increasing. C. cap the cost of borrowing. D. provide a living wage.
The figure below shows the market for shoes in a small importing country. Dd and Sd are the domestic demand and supply curves of shoes, respectively.
Following the imposition of a tariff, the domestic producer surplus ________ by the area
A. increases; (S1 - S0). B. increases; (a + b). C. increases; a. D. decreases; a.