Which of the following is a difference between a second-price sealed-bid auction and an English auction?
A) The highest bidder wins in a second-price sealed-bid auction while the second-highest bidder wins in an English auction.
B) The second-highest bidder wins in a second-price sealed-bid auction while the highest bidder wins in an English auction.
C) Bids are placed privately in a second-price sealed-bid auction while bids are placed publicly in an English auction.
D) Bids are placed one after another in a second-price sealed-bid auction while bids are placed simultaneously in an English auction.
C
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Define imputed rental income. Is imputed rental income taxed? Based on your answer, discuss the tax code treatment of homeowners and renters on equity grounds
What will be an ideal response?
If the Consumer Price Index (CPI) increases from 100 to 125 and the nominal wage increases from $125 to $300, what is the change in the real wage?
a. +$175 b. +$300 c. +$125 d. +$115 e. -$175