If the stock market of a country crashes, the currency of the country is expected to _____ in the future

Which of the following correctly describes the winner's curse?

a. When firms are bidding on an asset of uncertain value, the winning bid is not the average bid, which may be the most reliable estimate of the asset's true value. Instead the winning bid is the lowest bid, and so is the most pessimistic estimate of the asset's value. b. When firms are bidding on an asset of uncertain value, the winning bid is not the average bid, which may be the most reliable estimate of the asset's true value. Instead the winning bid is the highest bid, and so is the most optimistic estimate of the asset's value. c. When firms are bidding on an asset of uncertain value, the winning bid is the average bid, and thus is the most reliable estimate of the asset's value. The winner is cursed because only the most pessimistic bidder has a chance to earn economic rents on the asset. d. When firms are bidding on an asset of uncertain value, the winning bid is not the highest bid, which may be the most reliable estimate of the asset's true value. Instead the winning bid is the average bid, and so is the most optimistic estimate of the asset's value.

An increase in the price of gasoline shifts the demand for tires to the

A. left, because gasoline and tires are substitutes. B. left, because gasoline and tires are normally used together. C. right, because gasoline and tires are substitutes. D. right, because gasoline and tires are normally used together.