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REE 3043 exam 1 Questions and Solutions | Grade A+ $13.49
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REE 3043 exam 1 Questions and Solutions | Grade A+
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Economists suggest that the value of something results from its utility and: ️: D. Scarcity A branch of economics that extends the basic ideas of the early classical and neoclassical economists to better understand and predict how humans use space is termed: ️: C. Urban economics Formal a...

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  • June 11, 2024
  • 17
  • 2023/2024
  • Exam (elaborations)
  • Questions & answers

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  • ree 3043 exam 1 questions and solutions grade a

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REE 3043 exam 1 Questions and
Solutions | Grade A+


Economists suggest that the value of something results from its utility and:


✔️: D. Scarcity




A branch of economics that extends the basic ideas of the early classical and neoclassical

economists to better understand and predict how humans use space is termed:


✔️: C. Urban economics




Formal arrangements and associations that members of society make to support fundamental

economic and social activities are referred to, in the text, as:


✔️: B. institutions




Marshall contended that in a perfect market, the value of a good


✔️: A. was equal to its price




Commercial mortgages held in the portfolios of lenders are generally referred to as:


✔️: D. Unsecuritized commercial mortgages

,Stocks, bonds, and cash are generally classified as:


✔️: B. Financial assets




Real estate in the United States represents approximately what portion of the world's wealth?


✔️: A. 15 percent




Approximately _______ of the wealth of real estate in the U.S. accrues to residential

property.


✔️: D. 75%




According to the text, business real estate (excluding farmland) accounts for approximately

____ percent of the total value of real estate in the U.S?


✔️: A. 15%




The text organized to describe the following five perspectives of real estate:


✔️: A. investment, market, mortgage finance, and legal




T/F Early economists concluded that land, labor, and credit were the resources of society that

were combined by entrepreneurs to form useful products

, ✔️: False




T/F Alfred Marshall, an economist, argued that value results from the intersection of supply

(cost) and demand (utility).


✔️: True




T/F Urban economics constituted a branch of economics that focuses on urban problems,

especially housing issues.


✔️: True




T/F The fundamentals of supply and demand explain all aspects about individual and market

behavior in valuing space.


✔️: False




T/F In addition to affecting market operations, lease contracts serve to formally identify a

property's rent and the intersection of supply and demand


✔️: True




T/F Real estate can be classified as both a financial asset and a real asset.


✔️: True

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