Because Information and the Time Required to Acquire and Digest

question 125

Multiple Choice

Because information and the time required to acquire and digest it are scarce,

• A)consumers concentrate on private choices rather than on public choices
• B)consumers concentrate on public choices rather than on private choices
• C)it is irrational for consumers to remain ignorant of the costs and benefits of government proposals
• D)consumers have greater incentive to gather and act upon information about public choices than to gather and act upon information about their private choices
• E)an individual voter has more incentive to examine the performance records of candidates for public office

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Definitions:

Huang Gongwang

A Chinese painter during the Yuan Dynasty, known for his contributions to the landscape painting genre.

Yuan Dynasty

A dynasty in China that lasted from 1271 to 1368, established by Kublai Khan, marking the first time the entire country was ruled by a foreign power.

Auspicious Objects

Items or symbols considered to bring good luck, prosperity, or positive outcomes, often used in cultural rituals and ceremonies.

Court Painter

An artist who held an official position in a royal or noble household, responsible for creating portraits and other artwork for the monarch or nobility.