Which of the following statements is NOT true?
A. An English auction yields higher expected revenues than a second-price, sealed-bid auction when bidders are risk averse.
B. An auctioneer is always indifferent between different kinds of auctions.
C. The Dutch and first-price, sealed-bid auctions are strategically equivalent.
D. A mineral rights auction is a common value auction.
Answer: B
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In a change to immigration policy during 2012, "people younger than 30 who came to the United States before the age of 16, pose no criminal or security threat, and were successful students or served in the military can get a two-year deferral from
deportation", Homeland Security Secretary Janet Napolitano said, according to CNN, 06/16/2012. If many of these immigrants had previously been afraid to work, now as a result of being able to work legally A) both the short-run and long-run aggregate supply curves shift rightward. B) only the long-run aggregate supply curve shifts rightward. C) only the short-run aggregate supply curve shifts rightward. D) neither the short-run nor the long-run supply curve shift.
Suppose The United Bank of Glassen has loaned $250 to Mr. Joseph Langdon for his business. Mr. Langdon repays the loan with a check written against his own bank, Rexan Bank. Which of the following is likely to happen as a result of this transaction? a. The reserves at the United Bank of Glassen will fall
b. The reserves at Rexan Bank will increase. c. Checkable deposits at Rexan Bank will increase. d. Rexan Bank will make more loans than before. e. The reserves and checkable deposits of Rexan Bank will decrease.
Government can deal with externalities through the use of taxes and subsidies
a. True b. False Indicate whether the statement is true or false
How do liberals believe globalization affects poor countries?
a. makes them wealthier and more able to provide services b. prevents them from playing a role in the financial system c. leaves them at the mercy of powerful neighboring countries d. robs them of all their natural resources