All are true except

Question

All are true except

BlackTom AI · Accepted Answer

The prompt presents an incomplete multiple-choice item: it is labeled 'All are true except' but provides no list of answer options to evaluate. This prevents a complete, option-by-option analysis as required.

In the absence of the full set of options, we can still reflect on the single provided statement to illustrate how such a statement would typically be evaluated in context: 'Economists normally sell their homes without brokers, knowing they can save on commission.'

Consideration of this statement in general terms:
- Claim about behavior: It asserts a behavioral pattern (economists typically sell homes without brokers). To assess this, one would compare against known evidence about economists’ real estate practices. In reality, many professionals, including economists, use real estate brokers to handle listings, negotiations, and legal paperwork, often due to the complexity of transactions and the desire for professional leverage. Therefore the claim seems overly sweeping and likely false for the typical professional.
- Implication about savings: The statement hinges on the idea that avoiding brokers saves on commission. While avoiding broker fees could save money, it ignores the value brokers add, such as pricing strategy, exposure to buyers, contract management, and risk mitigation. Some economists may choose to sell without a broker in select situations, but that does not make it the normal or standard practice.
- Potential misconceptions: One common misconception is that saving on commission is the primary or sole reason to forgo a broker; another is assuming universal behavior across all economists. Both are dubious because professional choices vary widely, and commissions are weighed against time, expertise, and risk.

Without the other answer choices, you can't determine which statement is the exception. If the full set of options were available, you would:
- Identify which options are true statements about economists and real estate practices.
- Compare each option against known economic behavior, real-world data, and principle-based reasoning.
- Determine which option is not true (the exception) by elimination, paying careful attention to terms like 'normally,' 'usually,' or 'all' that affect whether a statement is generally correct.

In a classroom or exam context, when faced with a similar incomplete item, you would raise the issue of missing options to your instructor or use the provided correct answer (if any) to deduce what kinds of statements were intended, then critique each plausible alternative accordingly.

IFEPIA7022_001_2025_3 - Economics of Finance EOF Midterm

All are true except

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