In common value auctions
a. Every bidder know the value of the object being sold
b. Each bidder makes the same estimate of the value of the good
c. All bidders know the estimates of the others
d. The true value of the item is common across bidders
Answer: d. The true value of the item is common across bidders
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An autonomous monetary policy easing temporarily ________ real interest rates and ________ aggregate output in the short run, but in the long run real interest rates and aggregate output return to the equilibrium levels
A) reduces; raises B) reduces; lowers C) increases; lowers D) increases; raises
The slope of a line parallel to the horizontal axis is:
a. 1. b. 0. c. infinite. d. undefined.
When a market is in surplus, there is pressure for the price to move upward
a. True b. False Indicate whether the statement is true or false
Which of the following is the best example of a microeconomics topic?
A. a price of a new home B. the inflation rate C. the economy's growth rate D. forecasts of a recession next year