If the current dollars/peso exchange rate is $0.10 per peso, so that 10 pesos buy you a dollar, then how many dollars do you need to buy something that costs 50 pesos?

To attract more bidders, and more aggressive bidders, to your common-value auction

a. withhold relevant information about the value of the object b. don't allow bidders to know how others are bidding c. allow potential bidders ample time to examine the object being sold d. do not hold oral auctions

The branch of economics that focuses on decision making for the economy as a whole is called:

a. normative economics. b. macroeconomics. c. microeconomics. d. consumer economics.