A college professor berates his political science students for being uninformed on current political and government issues. For example, most of them do not know who represents them in the U.S. House of Representatives. He tells his students that they will never get very far in life by staying so uninformed and uninterested. The professor is probably overlooking the fact that
A) people are uninformed and uninterested in only some things-not all things.
B) his students could be choosing rational ignorance.
C) by not taking out time to find out certain things, his students have more time to study for his tests.
D) a, b, and c
E) none of the above
D
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Refer to Figure 3.2. Betty's dominant strategy is
A) North. B) West. C) East. D) Betty has no dominant strategy.
When income taxes are ________ progressive, then output is ________ sensitive to price-level changes
A) more; more B) more; less C) less; more D) less; less
The target zone model of exchange rates requires adjustment for
A) imperfect policy credibility and intra-marginal adjustments. B) imperfect policy credibility. C) speculative pressure and intra-marginal adjustments. D) speculative pressure.
If Bill is willing to pay $10 for one good X, $8 for a second, and $6 for a third, and the market price is $5, then Max's consumer surplus is:
a. $24 b. $18. c. $9 d. $6.