A(n) ________ is an auction in which bids are placed publicly and the price decreases until a bidder stops the auction

A) open outcry English auction
B) open outcry Dutch auction
C) silent auction
D) penny auction


B

Economics

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Cartel members have a collective interest in ____ industry output and a private interest in ____ their own output

a. increasing; increasing b. increasing; decreasing c. decreasing; increasing d. decreasing; decreasing

Economics

If resources are being used inefficiently, where will the economy be in terms of the PPF diagram

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With the Bretton Woods system of international exchange rates

A) the value of a country's currency was determined strictly by the laws of supply and demand. B) the value of a country's currency was determined by its stock of gold. C) there were fixed exchange rates, and most countries were obligated to intervene to maintain the values of their currencies within 1 percent of par value. D) a nation's balance of payments was eliminated.

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Because the monopolistically competitive firm faces a ________ demand curve for its product, it ________ the price of its output

A) downward-sloping; cannot influence B) horizontal; can influence C) horizontal; cannot influence D) downward-sloping; can influence

Economics