Which auctioned good is more likely to have different private values across potential bidders?
A) a truckload of sand
B) a Monet painting
C) a brand new car
D) a gold bar
B
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GDP data alluding to the start of a recession in January 2015 was published and analyzed by the Fed in July 2015. The Fed then had to hold meetings to formulate a monetary policy to deal with the recession, and then enact the chosen policy
This exemplifies a(n) A) recognition lag. B) implementation lag. C) impact lag. D) liquidity lag.
Keynesians, monetarists, and classical economists all agree that the transactions demand for money is money being used as a
a. measure of value b. store of value c. standard of deferred payments d. medium of exchange e. medium of barter
If marginal cost is ______ average cost, then average cost will _____.
A. equal to; decrease B. less than; increase C. greater than; decrease D. greater than; increase
A decrease in the price of a nonlabor input such as electricity will cause
A) a movement down the SRAS curve. B) a movement up the SRAS curve. C) a leftward shift in the SRAS curve. D) a rightward shift in the SRAS curve. E) no change regarding the SRAS curve.