Potential buyers of older homes form their bids from imperfect estimates of a house's value. As a consequence,
a. High-value houses would remain unsold
b. Low value houses would remain unsold
c. Both of the houses would be sold
d. All of the above
a
You might also like to view...
In the following situation the tax system is Taxable income $1,000 $3,000 $9,000 $27,000 Taxes $100 $200 $400 $800
a. progressive through all levels of income b. proportional throughout all levels of income c. regressive throughout all levels of income d. based on the benefits-received principle e. there is insufficient information to answer the question
According to the Coase theorem, transaction costs have to be ______.
a. taxed b. subsidized c. low d. high
Which of the following pairs is the most likely to exhibit a direct relationship?
A. The price of gasoline and the amount of gasoline that people purchase. B. Cholesterol levels and the likelihood of developing heart disease. C. Outdoor temperature and heating oil sales. D. Annual income and weekly pawn shop visits.
In order for spot checks to work:
A. the time of the checks must not be predictable. B. employees must be monitored continually. C. Both employees must be monitored continually and the time of the checks must not be predictable are correct. D. None of the answers are correct.