In a Dutch auction, the starting bid is ________
A) far above any bidder's value for the good being auctioned
B) far below any bidder's value for the good being auctioned
C) far below the market price of the good
D) equal to the market price of the good
A
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The money market rate observed most closely by the Open Market Account Manager is the
A) Treasury bill rate. B) commercial paper rate. C) discount rate. D) federal funds rate.
If real GDP declines for at least one-half year, the economy is experiencing a:
a. depression. b. decline. c. recession. d. growth recession. e. deflation.
When money is accepted as payment for a good or service, it is being used as a:
A. medium of exchange. B. store of value. C. unit of account. D. mechanism for transforming current purchases into future purchases.
National income accounting is
A. a measure of consumer income. B. used by accountants to calculate the tax obligations of multinational corporations. C. used by businesses to calculate their profits during a given year. D. a system utilized to measure macroeconomic activity.