What are the similarities between an English auction and a Dutch auction?
What will be an ideal response?
In both the English and the Dutch auction, the bidder who has the highest valuation wins the auction. The expected revenues from an English and a Dutch auction are the same. On average, the auctions formats are expected to raise the same revenue. Both are open outcry auctions.
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Based on the figure below. Starting from long-run equilibrium at point C, a decrease in government spending that decreases aggregate demand from AD1 to AD will lead to a short-run equilibrium at__ creating _____gap.
A. B; no output B. D; an expansionary C. B; recessionary D. D; a recessionary
Emissions permits allow polluters to pay for the right to pollute a specified amount.
Answer the following statement true (T) or false (F)
When interest rates go up, people are
a. More likely to borrow b. Less likely to borrow c. Does not affect a person's consumption d. None of the above
A car dealership union negotiates a contract that dramatically increases all salesmen salaries. If one of the salesman is thinking of changing careers to be a hardware salesman, his opportunity cost
a. would not be affected b. would increase if he continued to be a car salesman c. of becoming a hardware salesman would increase d. none of the above