Reference no: EM133466319
Assignment: Principles of Microeconomics
Question I. What are some reasons people might find acquiring information about politics and voting rational, in contrast to rational ignorance theory?
Question II. What are some possible ways to encourage voter participation and overcome rational ignorance?
Question III. Given that rational ignorance discourages some people from becoming informed about elections, is it necessarily a good idea to encourage greater voter turnout? Why or why not?
Question IV. When Microsoft was founded, the company devoted very few resources to lobbying activities. After a high-profile antitrust case against it, however, the company began to lobby heavily. Why does it make financial sense for companies to invest in lobbyists?
Question V. Representatives of competing firms often comprise special interest groups. Why are competitors sometimes willing to cooperate in order to form lobbying associations?
Question VI. Should minimum wage be increased? Explain what are positives and negatives.