There are various things that could be bought or sold by an auction such as Collectibles and art, antiques, real estate sporting goods etc.
There are several ways to conduct an auction, but the first-price auction and second-price sealed-bid auctions are the most common. In first-price auctions, the person whose bid is highest than the base offer will win the auction. The highest bidder in a sealed-bid auction with a second price pays for the second-highest bid. If there are several bidders on a piece of real estate, for instance, the property will go to the highest bidder, but in this situation, the highest bidder will only have to pay the price of the second-highest bid.
The cost-benefit analysis indicates that auctions will aid in the sale of the rare products at a price over its minimum worth, based on the cost-benefit analysis. The best profit will therefore be made in this situation, but the consumer surplus is still positive.
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now suppose that the government immediately pursues an accommodative policy by increasing government purchases in response to the short run economic impact of the higher oil prices <u>The output will be $billion and the price level will increase.</u>
<h3>What is
accommodative policy?</h3>
When a central bank (like the Federal Reserve) tries to increase the general money supply to support the economy when growth is stalling, this is known as accommodating monetary policy, often known as loose credit or easy monetary policy (as measured by GDP). The goal of the policy is to allow the money supply to increase in step with both the demand for money and national revenue.
- The expansion of the money supply by central banks to stimulate the economy is known as accommodating monetary policy.
- The Federal funds rate has been decreased as part of monetary policies that are deemed accommodating.
- The goals of these policies are to lower the cost of borrowing money and boost consumer spending.
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<h3><u /></h3>
Answer:
The answer is: C) Attitude of others
Explanation:
The attitude of others refers to how much can another person´s attitude reduce what someone else prefers to buy. The extent of how much can a third party influence our purchasing decisions is based on:
- How intense is the third party´s negative attitude toward buying that specific product.
- How motivated we are to comply with the other person´s attitude.
<h3><u>Answer;</u></h3>
credit, debit, and debit, respectively
<h3><u>Explanation</u>;</h3>
Normal balance of sales; Credit
Normal balance of sales discount; Debit
Normal balance of sale returns and allowances; Debit
- A normal balance is the expectation that a particular type of account will have either a debit or a credit balance.
- The normal balance of sales is credit.
- The sales returns and allowances account is subtracted from sales because these accounts have the opposite effect on net income. Therefore, sales returns and allowances is considered a contra‐revenue account, which normally has a debit balance.
- The account Sales Discounts is referred to as a contra-revenue account. Therefore; its is debit balance.
Answer:
C ) As demand increases,price increases
