Under the transferrable pollution rights system, unused permits ______.
a. must be destroyed
b. can be sold
c. become public property
d. result in heavy fines
b. can be sold
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As a manager holding an auction with correlated or common values, you want buyers to place bids that are ________ their estimated valuations and sellers to place bids that are ________ their estimated costs.
A) close to; close to B) close to; far from C) far from; close to D) far from; far from
If Macland’s growth rate is consistently 8 percent, how many years will it take to double its standard of living?
a. 2 years b. 8 years c. 9 years d. 12 years
Dollarization of a currency occurs when a country takes all of its own currency out of circulation and replaces it with U.S. dollars.
a. true b. false
The marginal cost curve intersects the average variable cost curve at the ________ value of the average variable cost curve.
A. average B. zero C. maximum D. minimum