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Which of the following statements regarding the rational ignorance effect are true? Check all that apply.
1. A rationally ignorant voter may choose a political candidate based simply on party affiliation or public appearances rather the candidate's positions on a wide range of issues.
2. Rational voter ignorance occurs when a voter chooses a candidate who supports policies that are not in the best economic interest of the voter.
3. A rationally ignorant voter may find it difficult to gauge the benefits of voting because candidates take stands on a wide range of issues, and the voter does not get to pick and choose among a candidate's good and bad positions.
In evaluating the accuracy of their statements, should one distinguish between (i) economist’s descriptive statements, propositions, and predictions about the world, and (ii) their statements about what policies should be adopted. Explain in detail
An item is up for auction. Player 1 values the item at 3 while player 2 values the item at 5. Each player can bid either 0,1, or 2. If player i bids more than player j then i wins the good and pays his bid, while the loser does not pay. If both playe..
Bobby is the only man standing next to exactly one handsome man. 4. Clinton is the only man not standing next to exactly one scarred man. Who is fair, handsome and unscarred?
What factors determine the sensitivity of net exports to the interest rate? Consider the cases where net exports are very sensitive to the interest rate and where they are very insensitive. Compare the effect that an increase in the money supply has ..
Identifies and analyzes various elements, both legal and ethical, as they apply to marketing products and services in the United States. Cite at least 2 references that support your concerns and explain how these concerns are being actively addressed..
The following equation represents the weekly demand that a local theater faces. Determine the profit maximizing ticket price for the theater. What is the price elasticity of its demand at this price? What is the elasticity of its demand with respect..
Corruption, the Merriam Webster dictionary (n.d.) defines corruption as the "impairment of integrity, virtue, or moral principle, or inducement to wrong by improper or unlawful means (as bribery). Many argue that corruption is a major problem in busi..
Some argue that the government doesn't need affirmative action programs or other anti-discrimination policies because the profit motive provides sufficient motivation to eliminate discrimination in employment. Explain why this might NOT happen i.e. w..
At Forest Point Construction, your boss says that he can estimate the total project time based on his personal experience. You are trying to convince him that he should use project management techniques to handle a complex project. What is the correc..
“Devoting a larger share of national output to investment would help restore rapid productivity growth and rising living standards.” Do you agree with this claim? Explain.
Which of the following will NOT shift the supply for tea?
Explain how are presidential election outcomes related to the performance of the economy. What are the major factors that have affected U.S. household consumption since the recession in 2001.
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