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:

Amphetamines

A class of stimulant drugs used medically to treat conditions such as attention deficit hyperactivity disorder and narcolepsy, but also subject to abuse for their energizing effects.

General Adaptation

Refers to the process by which organisms adjust to changes in their environment or stressors over time, often discussed in the context of stress biology.

Appraisal

The act of evaluating or estimating the nature, quality, or worth of something.

General Adaptation Syndrome

A model of the body’s stress response, consisting of three stages: alarm, resistance, and exhaustion.