What is meant by the term "rational ignorance"?
A) It refers to the fact that policymakers and their constituents have different ideas of what it means to behave rationally and each party deliberately ignores the other's view.
B) It refers to the absence of a negative incentive, such as levying a fine for not voting, which results in low voter turnout.
C) It refers to a situation where one policymaker deliberately approves legislation he does not support in exchange for a future favorable vote for his own cause.
D) It means the lack of an economic incentive for voters to become informed about a pending vote.
D
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Under the Articles of Confederation, the Continental Congress permitted each state to issue paper money and borrow on their own to finance expenses related to the American Revolution
Indicate whether the statement is true or false
Which of the following statements about employer prejudice is true?
a. It would be impossible for employer prejudice to exist in a firm that sells its output in a competitive market unless all rivals also discriminate. b. Economic theory tells us that it would be impossible for employer prejudice to exist in a firm that is a monopoly. c. Employer prejudice will help a monopolist to increase his profits by satisfying his managers personal prejudices. d. Legislation has ended employer prejudice in the United States. e. Employer prejudice occurs only in low-paying jobs.
If individuals who sit in the back of the classroom receive lower grades on average than the rest of the class, does that mean that sitting in the back of a classroom causes one to perform poorly on exams? a. Not necessarily. The reoccurrence of a certain relationship between two variables does not necessarily imply causation. b. It is not possible for an economist to determine causation
between variables. c. The reoccurrence of such a relationship is sufficient evidence that sitting in the back of a classroom will lead to lower grades. d. none of the above
If 
and 
are estimated values of regression coefficients associated with two explanatory variables in a regression equation, then the standard error (
) = standard error (
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).
Answer the following statement true (T) or false (F)