Appendix: Revenue equivalence theorem refers to equal seller revenue in which of the following pairs:
a. sealed bid auctions and English auctions
b. second highest wins and pays auctions and Dutch auctions
c. English highest wins and pays auctions and sealed bid Dutch auctions
d. highest wins and pays auctions and second highest wins and pay auctions
c
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Of the following, the largest source of revenue for the federal government is
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What will be an ideal response?
What are the advantages of a tax system for pollution control?
Assume that the central bank purchases government securities in the open market. If the nation has highly mobile international capital markets and a flexible exchange rate system, what happens to the GDP Price Index and reserve-related (central bank) transactions in the context of the Three-Sector-Model?
a. The GDP Price Index falls, and reserve-related (central bank) transactions become more negative (or less positive). b. The GDP Price Index and reserve-related (central bank) transactions remain the same. c. The GDP Price Index falls, and reserve-related (central bank) transactions remain the same. d. The GDP Price Index rises, and reserve-related (central bank) transactions become more positive (or less negative). e. The GDP Price Index rises, and reserve-related (central bank) transactions remain the same.