The American Association of Retired Persons (AARP) provides checklists summarizing the voting and attendance records of legislators. Which of the following is true?
a. If the AARP's members were rational, it wouldn't have to do this.
b. This policy is useless if AARP members are rationally ignorant.
c. This policy is intended to reduce voters' rational ignorance by decreasing the cost of information.
d. If AARP members read this information, their rational ignorance would be eliminated.
e. If all voters in the nation read this information, their rational ignorance would be eliminated.
C
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In the short-run macro model, the change in inventories will
a. equal output minus aggregate expenditures b. trigger a price change c. equal investment minus depreciation d. equal sales minus investment e. be matched by an equal and opposite change in the subsequent period
Government programs that take money from high-income people and give it to low-income people typically
a. improve economic efficiency by reducing poverty. b. reduce economic efficiency because they distort incentives. c. have no effect on economic efficiency because they both reduce poverty and distort incentives. d. sometimes improve, sometimes reduce, and sometimes have no effect on economic efficiency.