Multiple Choice
Article Summary
RealtyTrac,a provider of housing data and analytics for the real estate industry,conducted an analysis of home values,appreciation,and property taxes in zip codes where either a Whole Foods Market or a Trader Joe's are located.The findings are as follows:
-Homeowners near a Trader Joe's experienced an average 40 percent increase in home value since the date of purchase,had average home values of just over $590,000,and paid an average of $8,536 in annual property taxes.
-Homeowners near a Whole Foods Market experienced an average 34 percent increase in home value since the date of purchase,had average home values of just over $560,000,and paid an average of $5,382 in annual property taxes.
- Homeowners in general for all zip codes nationwide experienced an average 34 percent increase in home value since the date of purchase,had average home values of just over $260,000,and paid an average of $3,239 in annual property taxes.
-Refer to the Article Summary.Assuming the findings are correct and all else equal,higher increases in home values which result from close proximity to a Trader Joe's are an example of a ________ due to the location of the Trader Joe's.
A) positive externality
B) negative externality
C) private cost
D) social cost
Correct Answer:
Verified
Correct Answer:
Verified
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