Refer to Scenario 2. If the age of a house increases by 1 year given that the square feet is held constant, what is the impact on the house's market value?
What will be an ideal response?
The Market Value would decrease by $825.16.
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When Sardar buys insurance, on net he
A) gains if the value of the insurance is greater than the price he pays the insurance company. B) loses because the price must pay the insurance company lowers his expected utility. C) gains because his actual wealth with the insurance is greater than his expected wealth without the insurance. D) loses if the price of the insurance equals his expected loss from a bad outcome.
Which set of changes is definitely predicted to lower Real GDP in the short run?
A) Interest rates rise and wage rates fall. B) Interest rates rise and there is a beneficial supply shock. C) Interest rates rise and labor productivity increases. D) Interest rates rise and individuals expect lower (future) incomes. E) c and d
________ is an increase in the price level, while ________ is an increase in the price of one good in comparison to other goods and services.
A. A relative price increase; inflation B. Hyperinflation; inflation C. Inflation; a relative price increase D. Inflation; hyperinflation
In an open economy, how many bikes will this country export? 
A. 80,000 B. 50,000 C. 20,000 D. 60,000