Differentiate between double oral auctions and bilateral negotiations
What will be an ideal response?
A double oral auction is an auction mechanism in which sellers post asks and buyers post offers simultaneously, while a bilateral negotiation is a bargaining mechanism in which a single seller and a single buyer confront one another with bids and asks.
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Assume the government was to levy a tax of $100 per person on every individual in the country. Would this tax be characterized as proportional, progressive or regressive? Make sure to explain your reasoning
What will be an ideal response?
Which of the following is an implicit cost of production?
A) interest paid on a loan to a bank B) wages paid to labor plus the cost of carrying benefits for workers C) rent that could have been earned on a building owned and used by the firm D) the utility bill paid to water, electricity, and natural gas companies
The one-year re-pricing GAP is a measure of __________ risk
A) credit B) leverage C) interest rate D) liquidity
The relationship that shows how much buyers of a product want to buy at each possible price, holding fixed all other factors is called:
A. a demand curve. B. elasticity of demand. C. demand function. D. an indifference curve.