John is a seller in an affiliated-values auction environment where bidders are risk neutral. Which auction yields John the greatest expected revenue?
A. English
B. Second price
C. First price
D. All of the choices are revenue equivalent.
Answer: A
Economics
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In the economy of Iota, 9 people have jobs, 1 person is not working but is searching for work, and 10 people don't work and don't seek work. The unemployment rate is
A) 10 percent. B) 25 percent. C) 33 percent. D) 50 percent. E) none of the above.
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What is the multiplier effect?
What will be an ideal response?
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