When a person cashes a check drawn on her own account, the money supply
A. increases.
B. decreases.
C. remains the same.
D. increases because of interest rates.
C. remains the same.
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As a manager holding an auction with correlated or common values, you want buyers to place bids that are ________ their estimated ________ and sellers to place bids that are close to their estimated ________.
A) close to; valuations; costs B) far from; valuations; costs C) close to; costs; valuations D) far from; costs; valuations
Which of the following countries has had the more successful transition?
a. Poland b. Russia c. Kazakstan d. Georgia e. Kyrgystan
If the external costs of production are NOT taken into account, then production will
A) be less than socially desirable. B) be more than socially desirable. C) be the same since only prices are affected by externalities. D) cease.
When the market does not lead to an optimal allocation of resources, there must be
A. Too much regulation. B. Proper antitrust laws in place. C. A market failure. D. A competitive market structure.