A state of rational ignorance
A) is a reflection of too little education.
B) makes sense only if information is a free good.
C) exists only in ideal representative democracies.
D) makes sense when the costs of becoming informed are greater than the benefits.
E) none of the above
D
You might also like to view...
Hughes and Cain (2011) suggest that an event or series of events occurring in 1763 doomed British policy. What happened?
(a) A series of oppressive taxes (b) A tightening and more rigorous enforcement of the Navigation Acts (c) A proclamation which limited trans-Appalachian settlement to lands once granted to colonists by crown approval (d) An act that gave the Quebec province all the land west of the Ohio River
Suppose there are two countries that are identical in every way with the following exception: Country A has a higher stock of human capital than country B. Given this information, we know with certainty that
A) the growth rate will be higher in A than in B. B) the growth rate will be the same in the two countries. C) output per worker will be the same in the two countries. D) K/N will be higher in B.