With respect to an auction market,
a. labor and output are assumed to be traded in markets that are not always in equilibrium.
b. all participants make decisions based on announced nominal wage rates.
c. all participants make decisions based on announced product prices.
d. All of the above
e. None of the above
C
Economics
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Fill in the blank(s) with the appropriate word(s).
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The real business cycle theory emphasizes that in today's modern age, ________ technology plays a significant role in causing economic fluctuations
A) obsolete ideas in B) advances in C) shocks to D) duplications in
Economics