Good weather in cities such as San Diego
A) is absolutely free for the residents of that city.
B) is allocated using a weather market.
C) imposes indirect payments for the residents of that city.
D) b and c
E) none of the above
C
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A sealed-bid first-price auction ________ common in business settings, and participants in this kind of auction ________ observe other participants' bids
A) is; do B) is not; do not C) is; do not D) is not; do
If investment increases by $100 and, as a result, gross domestic product (GDP) ultimately increases by $200, the multiplier equals _____
a. 1 b. 2 c. 3 d. 4 e. 5
When there is a recessionary gap:
a. Unemployment exceeds the natural rate of unemployment. b. Unemployment equals the natural rate of unemployment c. Unemployment is less than the natural rate of unemployment. d. Any of the above is possible.
In which of the following market structures do you find only one seller?
A. a monopoly B. an oligopoly C. a monopolistic competition D. a perfectly competitive market