The state of choosing not to acquire information because the costs of acquiring the information are greater than the benefits is referred to as
A) logrolling.
B) rational ignorance.
C) market failure.
D) government failure.
B
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The price elasticity of demand ________ in value when moving downward along a ________ line demand curve
A) falls; straight B) rises; curved C) falls, curved D) rises; straight
________ is(are) the profits that a government receives because the value of money printed is greater than the cost of printing it
A) Seignorage B) Money revenue C) Currency gain D) Printing income
The three noteworthy features of corporations’ legal status include all of these except
A. how they are taxed. B. special limits are placed on the losses that may be incurred by those who invest in corporations. C. the corporation is a distinct entity separate from its owners. D. they may invest in the stock market and acquire financing.
In the short-run macro model, an increase in government spending
a. may reduce real GDP b. partially crowds out private investment spending c. usually crowds out exports d. usually crowds out spending on services e. requires an increase in taxes