Winning a common-value auction is
a. An indication that your valuation may have been spot on
b. An indication that your valuation may have been too pessimistic
c. Indicates that your valuation may have been too optimistic
d. None of the above
c
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According to the economic way of thinking, scarcity implies
A) money. B) competition. C) capitalism. D) chaos. E) all of the above.
The extent of ________ is one key factor in determining the extent of pass-through effects in an economy
A) relative market power B) exchange rate flexibility C) perfect elasticity in currency supply D) currency overhang
A new Mexican restaurant opens in the city of Manchester. The other restaurant owners are not happy about this new restaurant because they are experiencing what externality?
The fact that output gaps will not last indefinitely, but will be closed by rising or falling inflation is the economy's:
A. income-expenditure multiplier. B. self-correcting property. C. short-run equilibrium property. D. long-run equilibrium property.