For procurement of conventional products like hammers and shovels, the most appropriate type of contract is ______
a. fixed fee
b. cost plus fixed fee
c. cost plus percentage fee
d. cost plus incentive fee
a
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The "tragedy of the commons" refers to a phenomenon where
A) people do not internalize an externality. B) people have distinct property rights to a resource. C) people overuse a common resource. D) individuals are not allowed to use a common resource.
The closer an income Lorenz curve is to the line of equality, the
A) slower income is growing. B) more equally income is distributed. C) less equally income is distributed. D) faster income is growing.
The demand for a subway ride is probably ________ than is the demand for a car because ________.
A. less price elastic; people will take a longer time to adjust to the change in the price of a subway ride B. more price elastic; a subway ride requires a smaller portion of one's income C. more price elastic; people will take a longer time to adjust to the change in the price of a subway ride. D. less price elastic; a subway ride requires a smaller portion of one's income
Which of the following initiates changes in the Fed's discount rate?
a. Board of Governors b. Federal Reserve Banks c. Federal Open Market Committee d. Department of Commerce e. Treasury Department