REE 3043 Exam 1 Curcio
The gravity that draws economic activity into clusters is - demand for access or proximity
The best example of a base economic activity would be a - regional sales office
In a system of bid-rent
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REE 3043 Exam 1 Curcio
The gravity that draws economic activity into clusters is - demand for access or proximity
The best example of a base economic activity would be a - regional sales office
In a system of bid-rent curves, assuming that the households are identical except for the feature
noted, which of these prospective bidders will bid successfully for the sites nearest to the CBD? -
Households with the greatest number of commuting workers
Rochester, Minnesota is home to the Mayo Clinic. People travel from all over the world to be
treated at the Mayo Clinic because of its renowned reputation. Some people stay for weeks at a
time with large groups of family and friends by their side. All these people spend money on
hotels, food and other things, locally. The hospital is an example of: - an economic base
multiplier
In the past, each of the following has been a reason why cities developed Except - The
availability of top entertainers
The set of activities that a city provides for the world beyond its boundaries is called: - Economic
Base
The bid-rent curve is influenced by various factors but NOT : - male vs. female commuters
Calculate the location quotient for the healthcare industry of a certain city given the following
facts:
Total % of city population working in healthcare is: 30%
Total % of U.S. population working in healthcare is: 15% - 2
What is the main determinant of the hierarchy of central place patterns? - Population required for
market
A fishing company was formed in Juneau, Alaska. Within ten years a canning plant, a processing
plant, and a boat repair facility had also opened in Juneau. This is an example of: -
Agglomeration economics
Ten different car dealerships have opened their businesses along eight consecutive blocks on
Camelback Road in Phoenix, Arizona. This is an example of: - Clustering
Amanda works downtown and pays $800 per month in rent for an apartment 25 miles from her
office. She has calculated that she spends 40 minutes per day driving each way to the office and
it costs her $9 per day in gas and lost productivity. Based on a 20 workday month, how much
would she be willing to pay for an apartment downtown? - $980
Locating similar businesses in close proximity (such as clothing stores within a regional mall) is
a pattern used in ___________________ activities. - Comparison
Which of the following statements is least correct? - Cities with agglomeration economies deter
technological espionage and business encroachments.
A market where tenants negotiate rent and other terms with property owners or their managers is
referred to as a: - User Market
The term "real estate" is used in three fundamental ways. These include all of the following
EXCEPT : - To identify all types of properties
Real estate property taxes generate approximately _______ of local government revenue - 70%
What two elements are involved in every real estate investment decision? - Initial cost and value
of future benefit
Approximately what portion of U.S. households owns their own home? - Approximately 2/3
The total value of owner-occupied housing and investible commercial real estate in the United
States is estimated to be approximately: - $26 trillion
Judgment liens against an owner of real estate may be nullified or limited by: - State laws
governing homesteads
In Florida, designating a principal residence as a homestead: - Protects the residence from
bankruptcy sale
Lien Priority in real
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