In the market for newly developed real estate, adverse selection could occur when
a. The buyers can observe and detect all the features of the properties
b. The buyers know more about the property than the developers
c. The developers of the property know more about the properties than the buyers
d. Neither parties knows about the item properly
c
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If real GDP is $6,460 billion, the population is 184.6 million people, and aggregate hours is 170 billion hours, labor productivity is
A) $2.63 an hour. B) $2.86 an hour. C) $35,000. D) $38.00 an hour. E) 920 hours.
The country with the highest degree of central bank independence in the period 1973-88 was ________
A) the United States B) New Zealand C) Spain D) Germany
In a study of whether prices are sticky or not, Alan Blinder supervised interviews of corporate executives on the frequency with which their firms change prices and found that
a. 55 percent of firms changed prices only once a year or less. b. over 20 percent of the firms changed prices more than 12 times per year. c. 10 percent of companies changed prices 4 to 12 times per year. d. there is not a considerable departure from auction-market behavior.
If a competitive firm's marginal profit is positive at an output of 1000 units,
A) at 1000 units, MR = MC. B) it should produce more than 1000 units. C) it should produce less than 1000 units. D) at 1000 units, MR < MC.