Property values are determined by
a. the interest rate and expected annual revenues from the property, both present and future
b. the value of the expected annual revenues from the property, both present and future, and the rate of inflation
c. the opportunity cost of the property
d. the present (this year only) revenue generated by the property
e. the demand side only since the supply of the property is already fixed
A
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The "Buy American" provision in the 2009 stimulus package required that stimulus money be spent only on U.S.-made goods, effectively acting as a quota of zero imports when stimulus money was being spent
The "Buy American" provision would ________ consumer surplus and ________ producer surplus for industries that produced protected products in the United States. A) decrease; increase B) decrease; decrease C) increase; increase D) increase; decrease
When one player has to make a decision before the other player, the situation is called a:
A. simultaneous game. B. sequential game. C. prisoner's dilemma. D. commitment game.
As of 2013, the world's population is approximately:
A. 7 billion. B. 5 billion. C. 10 billion. D. 1.2 trillion.
An import quota will make the supply curve for the imported good
A) perfectly inelastic. B) perfectly elastic. C) unitary elastic. D) negatively sloped.