The law of one price should hold well for
A) differentiated products.
B) any individual goods traded internationally.
C) homogeneous goods.
D) All of the above.
C
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Which of the following is a difference between a first-price sealed-bid auction and a Dutch auction?
A) The highest bidder wins in a first-price sealed-bid auction while the second-highest bidder wins in a Dutch auction. B) The second-highest bidder wins in a first-price sealed-bid auction while the highest bidder wins in a Dutch auction. C) Bids are placed privately in a first-price sealed-bid auction while bids are placed publicly in a Dutch auction. D) Bids are placed one after another in a first-price sealed-bid auction while bids are placed simultaneously in a Dutch auction.
Which of the following price indices comes closest to measuring the cost of living of the typical household?
A) GDP deflator B) consumer price index C) producer price index D) household price index