Technically, the Federal Reserve district banks are corporations whose stockholders are the

More bidders increase the selling price in a second-price auction because

a. the true values of the losers is higher b. the true value of the winner is higher c. bidders bid more aggressively d. bidders shade their bids by less

Which of the following would be the most likely long-run effect if the United States increased its tariff rates and adopted stricter import quotas?

a. a decrease in both U.S. imports and exports b. an increase in both U.S. imports and exports c. a decrease in U.S. imports and an increase in U.S. exports d. an increase in U.S. imports and a decrease in U.S. exports