Which of the following is true of a first-price sealed-bid auction?
A) Bidders directly compete with each other.
B) Bidders place their bids simultaneously.
C) Bidders know each other's bids.
D) Bidders always bid below their willingness to pay.
B
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The above figure shows the demand curve for movie rentals from Redbox. If Redbox raised its price from $2.50 to $3.00, between these two prices the price elasticity of demand equals
A) 1.2. B) 0.8. C) 2.0. D) 0.5.
Which of the following types of economic regulation is most likely to encourage firms to inflate their costs?
A) price cap regulation B) rate of return regulation C) cartel regulation D) earnings sharing and price cap regulation
________ occurs when a central bank purchases assets with the intention not of lowering the short-term interest rate, which is already at zero, but with the purpose of increasing bank reserves
A) Quantitative easing B) Fiscal incrementing C) Loan originating D) Fiscal easing
In a large open economy ________
A) the effect of shifts in saving and investment on the trade balance are in the same direction as in a closed economy B) the effect of shifts in saving and investment on net capital flows are in the same direction as in a closed economy C) the effect of shifts in saving and investment on the domestic real interest rate and the actual levels of saving and investment are in the same direction as in a closed economy D) all of the above E) none of the above