Question
A used car salesperson would like to sell a badly damaged, malfunctioning vehicle to an unsuspecting customer without revealing the extent of the damage. Because the system of free enterprise facilitates voluntary exchange, she argues both parties will be better off after the sale of the vehicle is finalized. Is she correct? Explain.(1 point)
Responses
She is not correct. Fraud does not exist in a system of free enterprise.
She is not correct. Fraud does not exist in a system of free enterprise.
She is correct. Open opportunity guarantees that the buyer values the car more highly than the money exchanged for it.
She is correct. Open opportunity guarantees that the buyer values the car more highly than the money exchanged for it.
She is correct. By purchasing the car, the buyer reveals that he or she values the car more than the money exchanged for it.
She is correct. By purchasing the car, the buyer reveals that he or she values the car more than the money exchanged for it.
She is not correct. Trade involving fraud does not constitute voluntary exchange.
Responses
She is not correct. Fraud does not exist in a system of free enterprise.
She is not correct. Fraud does not exist in a system of free enterprise.
She is correct. Open opportunity guarantees that the buyer values the car more highly than the money exchanged for it.
She is correct. Open opportunity guarantees that the buyer values the car more highly than the money exchanged for it.
She is correct. By purchasing the car, the buyer reveals that he or she values the car more than the money exchanged for it.
She is correct. By purchasing the car, the buyer reveals that he or she values the car more than the money exchanged for it.
She is not correct. Trade involving fraud does not constitute voluntary exchange.
Answers
GPT 3.5
She is not correct. Trade involving fraud does not constitute voluntary exchange.