In common value auctions
a. Every bidder know the value of the object being sold
b. Each bidder makes the same estimate of the value of the good
c. Bidders do not know the estimates of the others
d. The true value of the item differs across bidders
c
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In Macroland autonomous consumption equals 100, the marginal propensity to consume equals 0.75, net taxes are fixed at 40, investment is fixed at 50, government purchases are fixed at 150, and net exports are fixed at 20. The vertical intercept of the aggregate expenditures model line is
A. 290. B. 0.25. C. 0.75. D. 320.
What will happen to the demand curve for workers in steel mills if some technology that increases their productivity is introduced assuming all else equal?
A) It will cause a downward movement along the demand curve of the workers. B) It will cause an upward movement along the demand curve of the workers. C) It will cause a leftward shift in the demand curve of the workers. D) It may cause a rightward shift in the demand curve of the workers.
In the above figure, Jill's opportunity cost of producing 1 gallon of soda is ________ of bottled water
A) 2 gallons B) 1/4 of a gallon C) 4 gallons D) 1/2 of a gallon E) 1 gallon
Which of the following best represents the effects of a decrease in the price of coffee, other things being equal?
a. A leftward shift in the demand curve for coffee. b. A downward movement along the demand curve for coffee. c. A rightward shift in the demand curve for coffee. d. An upward movement along the demand curve for coffee.