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Best example of rational ignorance

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Reference no: EM132542139

1. Which of the following is the best example of rational ignorance?

(A) The media is controlled by a narrow corporate elite, which distorts the news in its own interests.

(B) Stop taking Viagara if you experience vision loss or heart palpitations.

(C) Most Canadians do not have the time to read about politics, and therefore the political system is controlled by a narrow corporate elite.

(D) A narrow corporate elite uses its lobbying power to influence cellphone policy in Canada.

2. Which of the following is not true, according to public choice theory?

(A) Politicians are incentivized to do the best for voters.

(B) Firms want to maximize profits.

(C) Bureaucrats wants their departments to have more funding.

(D) Voters want to maximize public spending while minimizing their taxes.

3. Which of the following NOT a method of incomplete induction?

(A) Via online surveys on SurveyMonkey.

(B) Online surveillance.

(C) Reading people's diaries.

(D) Polling every single person you're interested in.

4. It is a Friday night, and you have an option between three distinct activities:

1. Enjoying a long walk with your dog.

2. Re-watching Game of Thrones.

3. Working out with your bros until you get pumped.

You hate Game of Thrones, but enjoy the other two activities; working out is your favourite. What is your opportunity cost of watching Game of Thrones?

(A) The pleasure from watching Game of Thrones.

(B) The pleasure from walking your dog.

(C) The pleasure from working out.

(D) The combined pleasure of all three activities.

Reference no: EM132542139

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