In the political market place, typical voters
A) support policies that they think will make the poor better off.
B) fire bureaucrats who support efficient policies.
C) are fully informed.
D) are sometimes rationally ignorant about a policy.
D
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Bonds with ________ tend to have higher interest rates than bonds with ________
A) high liquidity; low liquidity B) high default risk; low default risk C) shorter maturity; longer maturity D) low tax burdens on their interest; high tax burdens on their interest
When an economy is operating on its production possibilities curve, more production of one good means less production of another because:
a. resources are limited. b. resources are not perfectly adaptable to alternative uses. c. wants are limited. d. wants are unlimited. e. some resources are not employed.