Tammy Hall is the mayor of a large U.S. city. She has just established the Office of Window Safety. Because windows sometimes break and spray glass shards, every window in the city will now have to pass an annual safety inspection. Property owners must pay the S5-per-window cost-and by the way, Tammy has made her nephew the new head of the Office of Window Safety. This new policy is an example of: a. Political corruption. b. Earmarks. c. Rent seeking. d. Adverse selection.
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Tammy Hall is the mayor of a large U.S. city. She has just established the Office of Window Safety. Because windows sometimes break and spray glass shards, every window in the city will now have to pass an annual safety inspection. Property owners must pay the $5-per-window cost-and by the way, Tammy has made her nephew the new head of the Office of Window Safety. This new policy is an example of: a. Political corruption. b. Earmarks. c. Rent seeking. d. Adverse selection.
Juan N.
Bert needs a new plasma TV for the office and offers to buy one from the TV Barn. In reply, the TV Barn sends Bert its "standard written contract," which requires payment by "blue" crystal methamphetamine. After Bert has signed this contract, he changes his mind and wants out of the deal. Can the TV Barn enforce the agreement? Select one: a. No, the consideration was illegal consideration b. No, the consideration was an illusory promise c. No, the consideration was past consideration d. Yes
Crystal W.
A business executive, transferred from Chicago to Atlanta, needs to sell her house in Chicago quickly. The executive's employer has offered to buy the house for $\$ 210,000,$ but the offer expires at the end of the week. The executive does not currently have a better offer but can afford to leave the house on the market for another month. From conversations with her realtor, the executive believes the price she will get by leaving the house on the market for another month is uniformly distributed between $\$ 200,000$ and $\$ 225,000$ . a. If she leaves the house on the market for another month, what is the mathematical expression for the probability density function of the sales price? b. If she leaves it on the market for another month, what is the probability that she will get at least $\$ 215,000$ for the house? c. If she leaves it on the market for another month, what is the probability that she will get less than $\$ 210,000 ?$ d. Should the executive leave the house on the market for another month? Why or why not?
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