Refer to the scenario above. If these four friends are the only bidders and each bidder uses his optimal strategies, the owner of the good will earn an expected revenue of ________
A) $210
B) $350
C) $500
D) $625
C
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Political creative destruction is likely to be opposed:
A) equally in all types of economies. B) more in a market economy than in a command economy. C) more in an economy with inclusive institutions than in an economy with extractive institutions. D) less in an economy with inclusive institutions than in an economy with extractive institutions.
In the long run,
A. all of the firm’s input quantities are variable. B. the firm can vary the quantities of some but not all inputs. C. managers become less efficient. D. the total cost of producing any given level of output is greater than or equal to the short-run total cost of producing that level of output.
A tool for managing interest-rate risk that requires exchange of payment streams is a
A) futures contract. B) forward contract. C) swap. D) micro hedge.
Which one of the following are the components of aggregate expenditure?
a. household consumption, business investment, government spending for goods and services, and net exports b. household consumption, business investment, government transfer payments, and net exports c. household consumption, business investment, government spending for goods and services, and exports d. household consumption, business investment, government spending for goods and services, and saving e. household consumption, business inventories, government spending for goods and services, and net exports