In a sealed-bid, second-price auction, you should bid
A) your estimate of what others value the good at.
B) one dollar more than your estimate of what the second-highest bid will be.
C) your highest value.
D) the common value of the good.
C
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If you wish to maintain a constant purchasing power when you retire, you should choose retirement income options that are:
A. inflated. B. deflated. C. nominal. D. indexed.
The origins of modern monetarism lie in the work of the
A) Classical economists. B) Keynesians. C) Malthusians. D) Mercantilists.
Which of the following is true of banks? a. Banks reduce the opportunity cost of holding idle cash
b. Banks act as intermediaries between the government and private investors. c. Banks can reduce risk by lending to rich borrowers. d. Banks reduce the transaction costs of borrowing and lending money. e. Banks can reduce risks by extending more loans.
Which of the following will most likely occur during the recessionary phase of a business cycle?
a. Real GDP rises, and the unemployment rate falls. b. Real GDP declines, and the rate of inflation rises. c. The sales of most businesses decline, and the unemployment rate rises. d. Inflation rises, and employment/population ratio falls.