In a second-price sealed-bid auction, the ________ bidder wins the item
A) second-highest
B) highest
C) first
D) lowest
B
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The following figure introduces the relationship between industrial production and wholesale price index changes between the years 1929-1935. What is the purpose of the following figure?
What will be an ideal response?
Fixed costs are:
A. costs that depend on the quantity of output produced. B. costs that don't depend on the quantity of output produced. C. inputs costs that stay the same price per unit. D. costs that are negotiated to stay the same throughout the life of a contract.
The biggest difference between using a Pigovian tax or a tradable allowance to correct for a negative externality is:
A. the government collect revenues from the tax, and the private parties trade quota rights on their own. B. the tax creates an efficient outcome, and the tradable allowances do not. C. the tax maximizes total surplus, but the tradable allowances do not. D. All of these are differences between the two government policies.
Changing the rate at which the central bank makes loans counts as:
A) fiscal policy. B) monetary policy. C) neither fiscal nor monetary policy. D) both fiscal and monetary policy.