The circular flow of income shows that GDP can be measured as the sum of wages, interest, rent, and profits received by households or total expenditures on goods and services by households, firms, government, and the rest of the world

A firm that is the only seller of a product and is in sole control of a market has a

A) monopoly. B) quantity regulations. C) subsidy. D) public good.

In a sealed-bid first price auction, if you notice that your competition is stronger, you should

a. Shade your bid more b. Shade your bid less c. Bid more aggressively d. Both B&C