An English auction is usually a(n) ________ auction
A) sealed-bid first-price
B) sealed-bid second price
C) penny
D) open outcry
D
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Which of the following was NOT a major claim of Fogel and Engerman (1974) in their work on slavery?
(a) Slavery was profitable for Southerners. (b) Slavery slowed the mechanization of the plantations. (c) Slaves were treated fairly well. (d) Slavery was efficient.
Suppose that the economy is currently at full employment. All other things being equal, if central bank implements contractionary policy, then the appropriate fiscal policy is to
a. increase taxes. b. reduce government spending. c. balance the budget. d. increase a budget deficit.
Comparing how many dollars it takes to attend college each year to annual earnings on a job represents the use of money as a:
A. medium of exchange. B. unit of account. C. store of value. D. store of coincidence.
Property taxes are:
A. an automatic stabilizer because they vary with income. B. an automatic stabilizer because they do not vary with income. C. not an automatic stabilizer because they do not vary with income. D. not an automatic stabilizer because they vary with income.