If the bidders at an oral auction have true values of $8, $7, $6, and $5, the item will sell for
a. $8
b. $7
c. just over $7
d. just under $7
c
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What would be an example of government good?
A) Jake buys an iPhone. B) The local driver's license office purchases a new digital camera and printer. C) Antonio, the manager of the local Taco Hut, purchases a new deep fryer. D) Donald Trump purchases furniture for his office. E) Rhianna gets a haircut.
Which of the following is not an example of human capital for a college economics professor?
a. years of experience b. a doctorate in economics c. chalk d. what the professor has learned from seminar courses on effective teaching methods
An example of a good that can be used for money that has intrinsic value is:
A. fish. B. cigarettes. C. gold. D. All of these have intrinsic value.
If money wages increase, the most likely result is a(n)
A. increase in aggregate supply. B. decrease in aggregate supply. C. steeper aggregate supply curve. D. flatter aggregate supply curve.