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Markets can be broken down into two broad categories which are: (a) perfect competition and imperfect competition (b) land and improvements (c) real property and appurtenances (d) none of the above Macroeconomics is the study of: (a) individual units (b) […]

One of the most fundamental principles of real estate economics is the recognition that: (a) supply of land is fixed (b) increase in density is always possible (c) land use is never fixed (d) zoning can be easily changed Adequate […]

______ is the sum of all of the topographical, transport, and other influences on land use that characterize a particular neighborhood: (a) Zoning (b) Topography (c) Land (d) Location During times of rapid inflation, the government can attempt to reduce […]

Land use is: (a) fixed in the short run (b) fixed in the long run (c) is never fixed (d) flexible New construction occurs only when: (a) the required resources are available (b) only when there is vacant land (c) […]

The pattern of city growth that follows lines of transportation, such as rails and highways, is called: (a) sector (b) wedge (c) axial (d) concentric A decrease in demand will have what short-run impact on real estate prices and rents? […]

Higher property taxes can cause: (a) increases value of existing improvements (b) solves environmental problems (c) more efficient use of land (d) more intensive land uses The traditional role of the real estate agent as the source of information is […]

When a single parcel of land is allowed an exception to or deviation from a zoning requirement, the exception is called a: (a) rezone (b) variance (c) lot split (d) restriction A market in which there is only one seller […]

Real estate agents and multiple listing services tend to make real estate markets: (a) less perfect (b) more imperfect (c) more perfect (d) does not influence the market one way or the other A hypothesis is: (a) not a step […]

Rights in real estate are: (a) possible (b) absolute (c) expensive (d) not absolute Heavy government borrowing tends to: (a) decrease interest rates (b) stabilize interest rates (c) increase interest rates (d) is not a problem Answer: (c) Individual building […]

Availability of mortgage credit is a demand factor: (a) true (b) false Ultimately, all taxes paid by: (a) corporations (b) people (c) businesses (d) government Answer: (b) Common patterns of return include: (a) a series of payments over a period […]

Per the Law of Demand, as local home prices drop, the: (a) demand for homes should decrease (b) quantity of homes demanded should increase (c) supply of homes will increase in the short-run (d) vacancy rate for homes should increase […]