In auctions, the winner always pays a price equal to the highest (his) bid
Indicate whether the statement is true or false
False. There are also second-price auctions in which the winner pays a price equal to the second highest bid.
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In 2008, Germany had a budget deficit of 37 billion euros. This will budget deficit ________ the supply of loanable funds and ________ the real interest rate
A) increased; lowered B) decreased; raised C) decreased; lowered D) increased; raised
A country's total output, or real GDP, is determined only by its aggregate production function
a. True b. False
On net, the U.S. tax system is highly progressive.
Answer the following statement true (T) or false (F)
Which of the following is not a reason why the labor market experiences job turnover?
A. Workers differ in their abilities. B. Workers might want to change jobs after accumulating general training or education. C. Economic conditions can dictate that a firm reduce its number of workers. D. Firms differ in their amenities and working conditions. E. All of these are reasons why the labor market can experience job turnover.