The individual with the highest valuation of the good will win in which of the following auctions?
A) English Auction
B) Dutch Auction
C) Sealed Bid Auction
D) All of the above.
D
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Other things equal, the currency price of U.S. dollars in terms of foreign currency is negatively related to foreign demand for U.S. goods and services
a. True b. False Indicate whether the statement is true or false
According to international trade theory, a country should: a. import goods in which it has an absolute advantage
b. specialize in the production of the good in which it has an absolute disadvantage. c. export goods when it has either a comparative or absolute disadvantage in producing them. d. specialize in the production of the good in which they have a comparative advantage.
A firm in a competitive price-searcher market can raise its price without losing all of its customers. This is a result of
a. low entry barriers. b. a perfectly elastic market demand. c. the small number of firms in the market. d. product differentiation.
Peru is presented in the video as an example of a country in which:
A. changes in inflation rates are not as mild as they are in the United States. B. hyperinflation wiped out the local currency completely. C. changes in inflation rates tend to be milder than they are in the United States. D. the rate of inflation is tied directly to the rate of inflation for the U.S. dollar.