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Question 1.Rational ignorance suggests that ______.

Question : Question 1.Rational ignorance suggests that ______. : 2478

Question

1.Rational ignorance suggests that ______.

A. voters are uninterested in the electoral process

B. voters are ignorant on issues that are not of special interest to them

C. voters do not pursue information about issues before voting

D. low voter turnout is due to a lack of understanding of the platforms of each political party

2.Common resources are overused because _______.

A. the marginal social benefit from using a common resource increases as more of the resource is used

B.the principle of decreasing marginal cost applies to common resources

C.producers know that when the common resource begins to be depleted the government will step in and set up production quotas

D.producers consider their own private cost but not the cost they impose on others

3.The original tragedy of the commons concerned grazing cows and sheep in fourteenth century England.

Choose the statement about this tragedy of the commons that is incorrect.

A.The tragedy of the commons was overcome by the king declaring the common lands to be under his protection.

B.The quantity of cows and sheep that could be fed on the commons decreased.

C.No one had an incentive to ensure that the land was not over grazed.

D.The commons were open to all and used for grazing cows and sheep owned by villagers.

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Economics 4 Years Ago 340 Views
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