Sealed bid construction contracts are examples of market games that are
A. simultaneous and nonrepeated.
B. sequential and nonrepeated.
C. sequential and repeated.
D. simultaneous and repeated.
Answer: A
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Compare and contrast the concepts of income and wealth. Are these measured as a stock or a flow? Explain
What will be an ideal response?
The amount of output lost when the inflation rate is reduced by one percentage point is called
A) Okun's law. B) the sacrifice ratio. C) the Solow residual. D) Planck's constant.
The information revolution is:
A. putting upward pressure on wages. B. increasing manufacturing employment. C. changing the nature of employment. D. reducing overall employment.
A major advantage of monetary policy over fiscal policy is that monetary
A. policy affects all sectors of the economy equally. B. policy can be put into effect more quickly. C. policy, once implemented, takes effect more quickly. D. authorities see the need for policy more quickly.