Primarily through land use controls and property tax policy, which of the following branches of government has the largest influence on real estate values?
A. Local government
B. State government
C. National government
D. Foreign government
Ans: A. Local government
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When the U.S. interest rate ________ relative to foreign interest rates, the supply of dollars ________ and the supply curve of dollars shifts rightward
A) rises; increases B) rises; does not change C) falls; decreases D) falls; increases E) rises; decreases
In 1986, an Apple IIe computer with 65 kilobytes of memory cost around $1,500. Today, a $1,500 iMac computer (also made by Apple) comes with 8 gigabytes of memory. This illustrates the potential for what kind of bias in CPI calculations?
A) outlet bias B) new product bias C) increase in quality bias D) substitution bias
The best measure of the average standard of living is:
a. yearly population increase. b. real GDP per capita. c. consumer credit balances. d. the overall level of investment.
If one fails to account for implicit costs in decision making, then applying the cost-benefit rule will be flawed because:
A. the benefits will be overstated. B. the benefits will be understated. C. the costs will be overstated. D. the costs will be understated.