The winners curse is more often associated with;
a. oral auctions
b. second-price auctions
c. first-price sealed bid auctions
d. common value auctions
d
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Recent proposals for immigration reform that have drawn intense political fire include the following, except:
A. Increase fines for employers who knowingly hire illegal immigrants B. Implement a new amnesty program for illegal immigrants C. Shift immigration quotas away from family ties toward education-level and skills D. Create a guest-worker program with a tight cap
In national income accounting, a "final good" is
A) a finished product. B) something purchased with the goal of further resale. C) something purchased by an ultimate user in the household, business, or government sector. D) something that is impossible to determine.
An increase in total output or real GDP is
A. Economic growth. B. The Millennium Poverty Goal. C. Productivity growth. D. The inequality trap.
A fixed exchange rate causes:
A) transaction costs to increase. B) efficiency to increase only if the economies are integrated. C) efficiency to increase under all circumstances. D) volume of trade to decline.