Which of the following is an example of capital?
A) A cell phone bought by an individual for her younger brother
B) A tractor used by a farmer for plowing his field
C) A used television set purchased by a family
D) Alcoholic beverages served at a corporate event
Question 2
In a second-price sealed-bid auction, ________.
A) bidders submit their bids privately
B) bidders place their bids one after another
C) bidders know each other's bid
D) bidders bid above their willingness to pay