First-price auctions have all the following properties EXCEPT
a. Highest bid wins
b. Highest bidder pays the second highest bid
c. The item is won by the highest bidder
d. The price is set to the highest bid
b
Economics
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In the 1960s, government policy makers believed that they could: a. stabilize the economy by letting the market system solve all problems. b. reduce unemployment by running federal budget surpluses
c. eliminate government's role in stabilization policy. d. use changes in the money supply to virtually eliminate business cycles. e. use taxation and government spending to fine-tune the economy.
Economics
Low voter turnouts that appear to be a result of voter apathy may instead be a result of
A) government intervention. B) special interest group activity. C) cost-benefit calculations. D) a and b E) a, b, and c
Economics