Auctions are valuable for selling items such as
a. Pens
b. Artwork
c. Standard automobiles
d. All of the above
d
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The role that prices play in directing resources away from overcrowded markets and towards markets that are underserved is known as the ________ function of price.
A. market B. allocative C. rationing D. transitive
Refer to Table 14-3. Is there a dominant strategy for Nigeria and, if so, what is it?
A) Yes, it has a dominant strategy depending on what Saudi Arabia does. B) Yes, the dominant strategy is to produce a high output. C) Yes, the dominant strategy is to produce a low output. D) No, there is no dominant strategy.
Which of the following is an example of a reserve aggregate closely watched by the Federal Reserve?
A) Monetary base B) Currency held by the public C) Vault cash D) Total non-financial debt
The crowding-out effect refers to the tendency of expansionary fiscal policy to
A) cause decreases in planned investment or planned consumption. B) cause households to save less. C) replace low-skilled labor with higher-skilled labor. D) cause firms to produce beyond capacity.