Multiple Choice
Which of the following statements is TRUE?
I. Rationally ignorant people may favor price controls because they receive biased information.
II. Rational ignorance may lead voters to have mistaken beliefs about the state of the economy.
III. Rationally informed people can take advantage of the rationally ignorant by supporting policies that transfer wealth from the ignorant to the informed.
A) I, II, and III
B) I and II only
C) II and III only
D) I only
Correct Answer:
Verified
Correct Answer:
Verified
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