Rational Ignorance

question 162

Multiple Choice

Rational ignorance

• A)explains why consumers ignore sunk costs when they vote.
• B)explains the Arrow impossibility theorem.
• C)refers to attempts by special interests to use government action to make themselves better off at the expense of others.
• D)helps to explain why rent seeking by special interest groups occurs.

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Definitions:

Selective Serotonin Reuptake Inhibitors

A class of drugs commonly prescribed for depression and anxiety disorders that work by increasing serotonin levels in the brain.

Depression

A rephrased definition of Major Depression; it refers to a mood disorder featuring persistent feelings of sadness and loss of interest, impacting daily functioning.

Bipolar Disorders

A mental illness characterized by significant mood swings, including manic (high) and depressive (low) episodes.

Cannabis Overdoses

While rare and typically not fatal, refers to consuming an excessive amount of cannabis leading to uncomfortable symptoms like paranoia or extreme sedation.