Suppose managers of an art auction house are going to auction a painting that is believed to be painted by a famous artist. If the managers of the auction are able to provide evidence that the painting was created by the famous artist, the participants in the auction will have ________ confidence in their own valuation of the painting and will submit ________ bids.
A) less; lower
B) less; more
C) more; lower
D) more; higher
D) more; higher
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In a market system, the most dangerous types of bankruptcies involve
a. industrial monopolies. b. multinational firms. c. employment agencies. d. financial institutions.
The term "surplus" refers to a:
A. market that sells secondary goods. B. situation in which the quantity supplied is less than the quantity demanded. C. situation in which the quantity demanded is less than the quantity supplied. D. signal that producers need to increase the price of the good.
Refer to the figure below.________ inflation will eventually move the economy pictured in the diagram from short-run equilibrium at point ________ to long-run equilibrium at point ________. 
A. Rising; A B. Falling; A; C C. Falling; B: C D. Rising; A; C
During the latter half of 2004 and the beginning of 2007, the Fed adopted a policy that consistently increased the federal funds rate. The most likely goal of this policy was to:
A. decrease inflation by increasing aggregate demand. B. increase output by decreasing aggregate demand. C. decrease inflation by decreasing aggregate demand. D. increase output by increasing aggregate demand.