If the benefits of informing oneself are greater than the costs, then ignorance is
A. irrational.
B. rational.
C. not beneficial.
D. not costly.
Answer: A. irrational.
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Katya owns a math-tutoring business. Her accountant most likely includes which of the following costs on her financial statements? (i) workbooks containing practice problems (ii) rent for the storefront (iii) wages Katya could earn as a bookkeeper (iv) interest that Katya's money was earning before she spent her savings to set up the tutoring business
a. (i) only b. (i) and (ii) only c. (iii) and (iv) only d. (i), (ii), (iii), and (iv)
Figure 33-8
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In Figure 33-8, which of the following movements reflects the closing of a recessionary gap through the economy’s self-correcting mechanism?
A. A to B B. A to C C. C to E D. D to E
Which of the following statements is FALSE regarding the definition of poverty?
A) A threshold income level is used to define poverty. B) Adjustments to the poverty level are made on the basis of changes in the Consumer Price Index. C) Real incomes in the United States have been growing at a compounded annual rate of almost 2 percent per capita. D) Poverty cannot be defined in relative terms.
When OPEC meets to set production levels, this organization is playing a
A. reaction function game. B. cooperative game. C. negative sum game. D. non-cooperative game.