An auction has advantages over a lottery as a means of allocating the radio frequency spectrum
Indicate whether the statement is true or false
T Auctions will tend to put frequency in the hands of those who can make it more valuable. A lottery might ultimately reach a similar outcome after those who won frequency through a lottery resell it to others, but that requires more transactions.
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When a market is in equilibrium, both buyers and sellers do not perceive a benefit from changing their behavior. Why?
What will be an ideal response?
Which of the following is NOT money?
A) currency B) checking deposits C) checks in the checkbook D) All of the above are money.
The bonus of a plant manager in a vertically integrated firm is based on the following formula:
Bonus = 10,000 - 0.5(Qf - Q) where Qf is feasible production and Q is actual production. The value for Qf is provided by the plant manager at the beginning of the year. With this scheme, the plant manager has an incentive: A) to underestimate Qf. B) to overestimate Qf. C) to reveal the true Qf and make Q as small as possible. D) to reveal the true Qf and make Q as large as possible.
If the per capita income of a country is growing at 3.5 percent per year, approximately how long will it take for that income to double?
a. 20 years b. 25 years c. 35 years d. 70 years