How many regional Federal Reserve Banks are there in the United States?
a) 8
b) 12
c) 16
d) 30
Ans: b) 12
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Why do consumers prefer higher indifference curves (farther to the right) to lower indifference curves?
What will be an ideal response?
Which of the following statements about winner's curse is wrong?
A) Overbidding occurs when bidders are uncertain about the true value of the good. B) The phenomenon occurs in common value auctions. C) When intelligent bidders shade their bids, sellers receive more money with a sealed-bid auction than an English auction D) The phenomenon will not occur in private value auctions.
The Herfindahl index is the sum of the squared market shares of the four largest firms in an industry
a. True b. False
The wealth effect is
A. the result of wealthy people increasing the savings. B. the increase in savings and consumption resulting from increases in residential house prices and gains in the stock markets. C. the increase in the number of wealthy individuals in a country. D. the result of large increases in the balance sheets of the banks.