Releasing more information, in a common-value auction is
a. Good for the bidders because it reduces the risk that they face
b. Good for the auctioneer because it attracts more bidders
c. Good for the bidders because they are less likely to bid more on the item than it's worth
d. Both A&B
d
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Which of the following statements best describes the comparative advantage of the corresponding country regarding the iPhone?
a. The United States has a comparative advantage in designing and marketing products. b. China has a comparative advantage in designing and marketing products. c. Korea has a comparative advantage in producing components. d. China has a comparative advantage in producing components.
Which of the following can a country increase in the long run by increasing its money growth rate?
a. the nominal wage. b. real output. c. real interest rates. d. the real wage.
Refer to the following graph.
This set of cost curves is:
A. wrong because the marginal cost curve does not intersect the average total cost curve. B. wrong because the average variable and average total cost curves are switched. C. correct. D. wrong because the marginal cost curve should go through the minimum points of the AVC and ATC curves.
Which of the following is not a relatively recent change in policy concerning welfare?
(A) Transitioning from welfare to workfare. (B) Replacing Aid to Families with Dependent Children (AFDC) with Temporary Assistance for Needy Families (TANF). (C) Setting a 5-year limit on TANF benefits. (D) Reassigning the responsibility for implementing antipoverty programs to the federal government.