Which of the following is a similarity between an English auction and a Dutch auction?
A) The second-highest bidder wins the good in both auctions.
B) The bidder who values the good the most wins it in both auctions.
C) The bidders submit their bids privately at the same time in case of both auctions.
D) In both auctions, the bidders submit their bids privately at different times during the bidding process.
Question 2
Real GDP is the value of final goods and services produced in a year
A) expressed in the prices of that same year.
B) during a recession.
C) minus depreciation.
D) expressed in the prices of a base year.
E) minus the value of all the intermediate goods produced.
