Because information is costly to acquire,
a. people will rationally choose not to become fully informed when making decisions.
b. people will generally choose to become as fully informed as possible when making decisions.
c. people will generally choose to acquire no information that would be relevant to their decisions.
d. none of the above are true.
A
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The chairman of the Federal Reserve Board of Governors
A) is appointed by the President and confirmed by the Treasury. B) serves a fourteen year term as chairman. C) sits on the Federal Open Market Committee. D) is always the president of the Federal Reserve Bank of New York.
Most economists agree with which of the following?
A) Passive policymaking is likely to exert sizable long-run effects on real GDP. B) Active policymaking is likely to exert sizable long-run effects on real GDP. C) Active policymaking is unlikely to exert sizable long-run effects on real GDP. D) none of the above