Economists Leigh Linden and Jonah Rockoff researched the effect of the proximity of the residences of registered sex offenders to the values of other homes in the same area and found that the effects of having a sex offender in the neighborhood
A) are widespread and tend to remain unchanged with distance.
B) are virtually nonexistent.
C) reduce the average home value in the area by 50 percent.
D) are highly localized and diminish rapidly with distance.
D
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When one firm sells a good or service that has no close substitutes and a barrier blocks the entry of new firms, what type of market is this?
A) perfect competition B) only monopoly C) oligopoly D) only monopolistic competition E) either monopoly or monopolistic competition
Consider a car dealership advertises a three-year lease at $250 per month. When you arrive to apply, you discover that the lease requires a downpayment of $3600 dollars. You will undertake the lease if
A) you value the lease at least $350 per month. B) you value the lease at least $250 per month, the $3600 is a sunk cost. C) you value the lease less than $350 per month. D) you value buying a new car at $400 per month.
Which of the following would generate a supply of euros in exchange for dollars?
a. American demand for European real estate. b. European demand for U.S. government bonds. c. Americans vacationing in Europe. d. Purchase of French wines by U.S. importers.
Mergers are closely scrutinized by the government because
A) they might allow the firms involved to dominate the market and act as a legalized cartel (monopoly). B) they always result in a more efficient market. C) they always result in lower joint profits of the firms involved. D) all mergers are undesirable.