In a first-price sealed-bid auction, the ________ bidder wins the good being auctioned
A) lowest
B) second-highest
C) highest
D) first
C
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The equation of exchange shows that
A) P = (M × V) ÷ Y. B) P = (V × M) × Y. C) P = (M ÷ V) × Y. D) P = (M × Y) ÷ V. E) P - Y = M + V.
In the figure above, the poorest 20 percent of all households receive what share of all income?
A) 10 percent B) 20 percent C) 30 percent D) 40 percent
Productivity growth can be measured ________
A) by dividing output by Kt0.3 Lt0.7 B) by adding the contributions from capital growth and labor growth C) by subtracting the contributions from capital growth and labor growth from the growth of output D) by dividing the growth of output by the contributions from capital growth and labor growth
In 2015, the total income of all U.S. residents was approximately $16 billion
a. True b. False Indicate whether the statement is true or false