All successful bidders in a Treasury bill auction pay the __________ price for their bids
A) market-clearing
B) highest accepted
C) average
D) lowest accepted
D
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Which statement is false?
A. The 1990s was one of the most prosperous decades in the United States' history. B. The United States' economy reached its tenth year of steady expansion in the spring of 2001. C. Compared to other decades, the 1990s was a decade was unique in that it had strong economic growth with no recessions. D. At the end of the 1990s, the government was running budget surpluses.
Economists assume that rational people do all of the following except
A) undertake activities that benefit others and hurt themselves. B) respond to economic incentives. C) use all available information as they act to achieve their goals. D) weigh the benefits and costs of all possible alternative actions.
Which of the following has the highest Herfindahl-Hirschman index?
A. monopolistic competition B. oligopoly C. monopoly D. any of these, depending on the size of firm sales
Refer to the diagram. A government-set price floor is best illustrated by:
A. price A.
B. quantity E.
C. price C.
D. price B.