______________________: includes all the detail and information that were relevant to deriving market value of the other conclusions within the report.
Fill in the blank(s) with the appropriate word(s).
Ans: Self-contained appraisal report
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The difference between moral hazard and adverse selection is
a. moral hazard has to do with unobservable characteristics of individuals b. moral hazard has to do with unobservable actions of individuals c. adverse selection is when individuals change their behaviors because of a contract d. adverse selection is when you choose the wrong answer on a test
If an asset is considered liquid, then it:
A. can be sold quickly for cash without much loss of value. B. cannot be sold quickly for cash without much loss of value. C. can be sold quickly for cash, but tends to lose value. D. can easily be traded for other assets.
In the "Interdisciplinary Perspective" titled "A Philosophical Critique on the Marginal Utility of Money," the basic point made is that
a. the law of diminishing marginal utility does not apply to money b. marginal utility always increases at an increasing rate for money c. once basic needs are met, additional income or wealth does not increase happiness d. most of the theories advanced by economists are flawed e. the total utility function for money has a downward slope
Which of the following provides the fuel for growth and achievement of high income levels?
a. gains from trade b. entrepreneurial discovery c. capital formation d. all of the above