The optimal bidding strategy for a second-price auction is
a. To bid your true value
b. To shade your bid well below your true value
c. To shade your bid just a little below your true value
d. To size up your competition to determine how much to shade your bid
a
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Suppose the United States imports coffee from Brazil. Which of the following is a likely impact of this trade? a. The owners of the land used to grow coffee in the United States will be worse off
b. The producers of coffee-flavored candies in the United States will face higher costs of production. c. The consumers of coffee in the United States will face a higher market price. d. The workers in coffee plantations in the United States will be better off.
The terrorist attack on the World Trade Center on September 11, 2001:
A. did not have any significant impact since the risk on all bonds increased. B. caused the price of U.S. Treasury securities to fall and the yields on corporate bonds to fall. C. caused the demand for U.S. Treasury securities to fall and the demand for corporate bonds to rise. D. triggered a flight to quality in the bond market.
The majority of spending in the government purchases category comes from the federal government.
Answer the following statement true (T) or false (F)
The "representative firm" raises its output level as a result of entry in a competitive market.
a. true b. false