An English auction is
a. A sealed auction
b. An oral auction
c. An auction where bidders submit decreasing bids
d. All of the above
b
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When you use a debit card to purchase a pair of jeans, you are
A) creating a 30-day loan from your bank to the seller. B) creating a 30-day loan from the seller to your bank. C) giving your bank an instruction to transfer funds directly from your bank account to the store's bank account. D) creating an overnight repurchase agreement between your bank and the store.
A monopoly coffee shop is deciding on a menu of different cup sizes to sell to a population of consumers, some of whom are high demanders and some low demanders. How would the optimal menu differ depending on whether the consumers can be observably separated into the different types or not?
a. The menu is unaffected by type observability. b. If types aren't observable, the large cup size should be increased to separate the high demander. c. If types aren't observable, the small cup size should be increased to make it more attractive to low demanders. d. If types aren't observable, the small cup size should be reduced to make it less attractive to high demanders.
If a firm's MRP of capital > MFC, the firm should
a. lower the interest rate b. decrease its quantity demanded of loanable funds c. increase its quantity demanded of loanable funds d. hire more labor e. raise the interest rate
Which of the following is LEAST likely to be a reason for the decline in U.S. union membership?
A) declines in manufacturing employment B) increases in the work force of the public sector C) deregulation of transportation industries D) increasingly more immigrant workers to fill unskilled job positions