Bid-rigging is more likely when
a. auctions are for larger amounts
b. auctions are frequent
c. auctions are infrequent
d. the auctioneer is paid on commission rather than a fixed fee
b
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Why has the Federal Reserve chairman often been called the second most important person in terms of affecting the economy?
A) The Fed chairman has veto power over all federal spending. B) The Fed is in control of monetary policy. C) The Fed chairman draws the second highest salary of any official of the federal government. D) The Fed has regulatory power over all financial markets.
Hurricane Katrina destroyed much of New Orleans and other parts of the South. Which of the following statements is true? The hurricane:
A. caused the production possibilities frontier of the United States to shift in. B. caused the production possibilities to increase, since it created a lot of work to rebuild the city affected areas. C. caused the production possibilities frontier of the United States to shift. D. didn’t change the production possibilities frontier, but moved from a point on the frontier to a point inside the frontier.
COLA clauses are usually based on the
a. CPI. b. PPI. c. implicit price deflators. d. level of unemployment.
In the analysis of potential GDP, labor and capital are considered
a. inputs. b. final goods and services. c. byproducts of economic growth. d. outputs.