The optimal bidding strategy in a first-price sealed-bid auction is identical to the optimal bidding strategy in a(n) ________ auction
A) open-outcry English
B) open-outcry Dutch
C) second-price sealed-bid
D) dollar
B
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Define the following terms: a. Recession b. Mixed economy c. Transfer payments d. Progressive taxation
What will be an ideal response?
In the figure above, as more six-packs of soda are consumed, moving along any of the illustrated indifference curves, the MRS between twelve-packs of soda and six-packs of soda
A) increases. B) decreases. C) stays constant. D) first increases, then decreases.
_____, the time-inconsistency problem gets eliminated
a. When an inflation or a recession is correctly anticipated b. When lags associated with monetary and fiscal policy are extremely short c. When discretionary macro policy is replaced with fixed policy rules which are well publicized d. When expectations about the economy adjust very slowly e. When the price level in an economy adjusts over time with changes in aggregate demand
Which of the following is correct?
a. A bank's deposits at the Federal Reserve counts as part of the bank's reserves. The Federal Reserve pays interest on these deposits. b. A bank's deposits at the Federal Reserve counts as part of the bank's reserves. The Federal Reserve does not pay interest on these deposits. c. A bank's deposits at the Federal Reserve does not count as part of the bank's reserves. The Federal Reserve pays interest on these deposits. d. A bank's deposits at the Federal Reserve does not count as part of the bank's reserves. The Federal Reserve does not pay interest on these deposits.