The choice of a voter to remain uninformed because the marginal cost of obtaining information is greater than the marginal benefit from obtaining knowledge is called:
a. irrational ignorance.
b. rational ignorance.
c. collective interest.
d. choice.
b
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During the Great Depression in the United States between 1929 and 1933, banks' reserve/deposit ratio ________ and the amount of currency held by the public ________, while the money supply ________.
A. decreased; decreased; increased B. increased; increased; decreased C. decreased; decreased; decreased D. increased; increased; increased
Consumer surplus from a given purchase is the difference between what one was willing to pay for that purchase and what was actually paid
What will be an ideal response?
Poor welfare recipients face higher marginal tax rates than do the richest families
a. True b. False
The primary international reserve asset is foreign currency, mainly _____
a. Japanese yen b. eurobonds c. ringgit d. U.S. dollars e. Chinese yuan