Bidding in a Dutch auction continues until ________
A) no bidder is willing to bid any higher
B) a bidder accepts the price announced by the auctioneer
C) a bidder bids above the market price of the good
D) a bidder bids below the starting bid
B
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Technological progress should lead to
A) an outward (rightward) shift in the investment function. B) an unchanged investment function. C) a downward movement of the investment function. D) less saving.
Critically analyze the following and explain whether you agree or disagree: a. Janet knows a lot of people who do not like Marmite®, a yeast extract that is used as a spread on toast
She says that Marmite is so unpopular that Unilever, the company that manufactures Marmite®, cannot possibly have any monopoly power. b. Edgar says that a single firm in the wind power industry is unlikely to have a significant degree of monopoly power for an extended period of time. Since the cost of producing an additional unit of wind energy is so low, a large number of firms can enter the market and compete away economic profits.
Losers from inflation include:
a. savers and borrowers. b. landlords and the government. c. borrowers and the government. d. those on a fixed income and borrowers. e. those on a fixed income and savers.
Which of the following statements is false?
A. Recognizing tradeoffs is an essential part of good decision making. B. Most government policies provide people with incentives to take certain actions and avoid others. C. People will pursue an action as long as it has benefits associated to it. D. Every choice involves a tradeoff.