Public choice theory indicates someone who spends more time evaluating which tennis racket to buy than deciding which U.S. Senate candidate to support
a. is behaving irrationally.
b. is behaving rationally, given the structure of incentives confronted.
c. will likely be responsible for electing the wrong senator.
d. is failing to maximize his own personal utility.
B
Economics
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Suppose per capita real GDP grows by 3.5% per year. Based on the Rule of 70, approximately how many years will it take for the level of per capita real GDP to double (i.e., increase by 100%)?
A) 10 years B) 35 years C) 20 years D) 3.5 years
Economics
Which of the following is the exponential trend equation to forecast sales (S)?
A) S = a + b(t) B) S = a + bt C) S = a + b(t) + c(t)2 D) None of the above
Economics