The price that we observe in the market is
A) the law of demand.
B) a substitute.
C) the money price.
D) the relative price.
Answer: C
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Refer to the scenario above. The winner of this auction will earn a surplus of ________ if he/she follows his/her dominant strategy
A) $100 B) $50 C) $400 D) $200
Argentina provides a recent example of a currency board success
Indicate whether the statement is true or false
Businesses go to credit markets in order to
A) obtain capital. B) obtain financial assets that can be used to buy capital. C) obtain capital so they can earn rents. D) channel their savings into investments.
A prominent argument against the use of price ceilings is:
A. they are unfair. B. they lead to a surplus and a waste of society's resources. C. they lead to rent seeking. D. they raise corporate profits.