Bid-rigging is more likely when
a. auctions are for larger amounts
b. auctions are infrequent
c. auctions are for smaller amounts
d. the auctioneer is paid on commission rather than a fixed fee
c
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Which of the following is an example of an automatic stabilizer?
A) Congress increases the tax rate during an expansion. B) Congress authorizes spending increases during a recession. C) More unemployment benefits are paid during a recession. D) Welfare payments decrease during a recession.
Which of the following statements is true?
A) Producer surplus measures the total benefit received by producers from participating in a market. B) When a market is in equilibrium consumer surplus equals producer surplus. C) Consumer surplus measures the total benefit from participating in a market. D) Consumer surplus measures the net benefit from participating in a market.