A supply restriction on imported goods, such as the government's restriction of imported oil for many years, is referred to as

When decision rights are decentralized, typically

a. decisions are being moved to those with less of the relevant information b. decisions are being moved to those with stronger incentives to make good decisions c. decisions are being moved to those with more of the relevant information d. decisions are being moved from those with weaker incentives to make good decisions

Which of the following goods is likely to be sold through an auction?

A) a loaf of bread from a local bakery B) the rights to drill for oil on a specified 200 acres in Texas C) an ear of corn D) a bag of flour