Two Types of Existing Houses Are for Sale: Ones with a Cracked

question 20

Multiple Choice

Two types of existing houses are for sale: ones with a cracked foundation and ones without.In all other respects,they are identical.Houses without cracked foundations are worth $200,000 while those with cracked foundations are worth $200,000 minus the $20,000 to fix the crack or $180,000.The frequency of solid foundations is 80%.Sellers know which type of house they have but buyers cannot detect a crack.No seller "must" sell his house in order to move and thus no one accepts anything less than its value.
Suppose some of the owners with solid foundations remove their homes from the market because they can't sell for a price that is as high as the value of their homes.Then

• A)the buyers' reservation price rises.
• B)the owners of cracked slabs also begin to remove their homes from the market.
• C)the proportion of homes for sale with a cracked slab rises.
• D)the buyers become more willing to believe the owners' claim of a solid foundation.

Understand the sociological perspective on human behaviors and social practices.

Understand the genetic and environmental influences on sexual orientation.

Recognize societal attitudes towards homosexuality and their impact on individuals.

Identify and describe various sexual dysfunctions and disorders.

---

Definitions:

Calvinist Doctrine

A set of religious principles based on the teachings of John Calvin, emphasizing predestination, the sovereignty of God, and the necessity of grace for salvation.

Predestination

A theological doctrine that asserts all events have been willed by God, particularly regarding the salvation of some and not others.

Revivalists

Preachers or activists who aim to reawaken the faith of people, often seen in the context of religious movements aiming for a resurgence in belief and practice.