The more bidders there are at an oral auction,
a. the higher the expected selling price
b. the higher each bidder bids
c. the longer that each bidder will continue to bid
d. the less each bidder will shade his bid
a
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Which of the following would have the biggest payoff?
A) increasing the Okun Gap B) restoring real GDP growth to its 1960s growth rate C) making the Okun Gap equal the Lucas Wedge D) eliminating the Okun Gap E) increasing the Lucas Wedge
German luxury car exports were hurt in 2009 as a result of the recession. How would this decrease in exports have affected Germany's aggregate demand curve?
A) The aggregate demand curve would have shifted to the right. B) The aggregate demand curve would have shifted to the left. C) The aggregate demand curve would not have shifted, but there would have been a movement down the aggregate demand curve. D) The aggregate demand curve would not have shifted, but there would have been a movement up the aggregate demand curve.