From the highest percentage to the lowest percentage, the percentage of revenues earned by businesses in the United States is represented by which of the following?
A) corporations, partnerships, sole proprietorships B) partnerships, corporations, sole proprietorships
C) sole proprietorships, partnerships, corporations D) corporations, sole proprietorships, partnerships
A
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Depository institutions
A) make profit from the spread between the interest rate they pay on deposits and the interest rate they receive on loans. B) make a profit according to how much the Federal Reserve pays them. C) make their profit by charging the government for their services. D) make zero profit but receive compensation by the government because their services are so valuable.
How might technological change and globalization explain trends in the distribution of income?
What will be an ideal response?
According to the Theory of the Second Best, why might market liberalization through elimination of some market distortions, such as particular trade restrictions, lead to social welfare losses?
What will be an ideal response?
Refer to the table below. Recall that the bidders only know their own private value of the item and they do not know the other participants' private values. Further, assume each participant will submit bids using their optimal strategy. If the participants are bidding in a sealed-bid second-price auction, Bidder ________ wins the auction and pays ________.
The table above lists the independent private values of five participants in an auction. Each of the bidders only knows their own value and does not know the private values of the other participants.
A) #3; $9.5 million
B) #3; $10 million
C) #3; $9 million
D) #5; $9.5 million