FIL 260 Exam 3 Questions with Correct Solutions Latest update 2025 (Already Passed)
Statistical Areas - Answers metropolitan and micropolitan
This approach lets us look at a unified economic area without regard to local political jurisdictions.
The Coase theorem - cooperative surplus - Answers...
Statistical Areas - Answers metropolitan and micropolitan
This approach lets us look at a unified economic area without regard to local political jurisdictions.
The Coase theorem - cooperative surplus - Answers §High-cost party pays low-cost party, then gives
them half of the cooperative surplus
bid rent - Answers Under traditional _____________ analysis, the important place that land users tend
to wish to be near is the heart of the "Central Business District" (CBD), or the center of the "downtown"
area. As distance from the CBD increases, it costs more for activity conducted on that more distant land
to gain access to the focal point of commercial activity
basic industry - Answers brings in money from buyers/users located outside the local community
non basic industry - Answers ("population-serving") activity does not bring in money from outside the
local area.
Procuring Clause - Answers Brokers typically insert _________into their listing contracts: the seller owes
a commission even if he chooses not to sell to the ready/willing/able buyer that the broker locates, or if
a sale is completed 2 - 6 months after the listing agreement has expired if the buyer first learned of the
property through the broker's marketing efforts and thus the listing broker was the procuring cause
realtor with trademark sign - Answers The term Realtor® is a trademarked name (they actually call it a
"registered collective membership mark"), which always should be capitalized and accompanied by the
trademark sign
----- - Answers oHouse you owned and live in is the only thing you can sell and not pay capital gain
---- - Answers 2 weeks - rent your house out (When a residence is rented for less than 15 days during the
year, the rental income is excluded from gross income.)
SALT tax - Answers The SALT deduction is for people who itemize deductions rather than taking the
standard deduction — an amount the IRS allows you to knock off your taxable income without any
specific documentation.
Transfer of Development Rights - Answers voluntary programs that allow the owner of one property
(the "sending site") to transfer its development rights to the owner of a second property (the "receiving
site").
impact fees (or extractions) - Answers o sometimes are required of developers that propose new
projects in a local area. These fees can be controversial because they are charged to pay for
improvements or services outside of the development sit itself, that allegedly are needed because of the
developments existence.
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