In an ascending value auction, a bidder attempts to win a certain object by bidding a price below his valuation but higher than anyone else's bid
Indicate whether the statement is true or false
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Developing countries
a. do not benefit from foreign aid b. do not benefit from private investment c. generate less than half of their annual flow of foreign exchange from exports d. must acquire foreign exchange in order to pay for imports e. need to decrease labor productivity
Demand elasticity equals quantity times price
a. True b. False Indicate whether the statement is true or false
It may be necessary to ration a good whenever ___________ exists.
A. a surplus B. excess demand C. excess supply D. None of these choices are correct.
If there is 3 percent frictional unemployment, 4 percent structural unemployment, and ?2 percent cyclical unemployment, then the natural rate of unemployment equals:
A. 1 percent. B. 7 percent. C. 2 percent. D. 5 percent.