Rational (political) ignorance refers to
A) some voters choosing not to vote in elections.
B) the fact that some voters are not smart enough to be informed on political issues.
C) the state of not acquiring information about politics and government because the costs of acquiring the information are greater than the benefits.
D) political candidates deliberately saying "dumb" things during their campaign.
E) none of the above
C
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A change in any component of aggregate demand creates a larger change in overall aggregate demand. This is the ________ effect, and it means, for example, that a(n) ________ in consumption will cause an even larger ________ in AD
A) multiplier; increase; increase B) growth; increase; decrease C) multiplier; decrease; decrease D) liquidity; decrease; decrease E) liquidity; increase; increase
Which of the following would unambiguously increase consumption spending?
a. an increase in real disposable income coupled with a decrease in real wealth b. an increase in real wealth coupled with more pessimistic expectations regarding future income c. a decrease in real disposable income coupled with a decrease in the interest rate d. a decrease in the interest rate coupled with an increase in real wealth e. increased pessimism regarding future income coupled with an increase in the interest rate