Mary and Jack Are Tenants in Common, When Either Party

question 18

Multiple Choice

Mary and Jack are Tenants in Common, when either party dies, his or her share of their home will

• A) be given to a third party.
• B) go to his or her parents.
• C) go to their children.
• D) go to his or her heirs.
• E) go to the other party.

---

Definitions:

Equilibrium Quantity

The quantity of goods or services supplied that is equal to the quantity demanded at the market equilibrium price.

Rent Control

Governmental regulation of the amount landlords can charge for residential housing, intended to make housing more affordable.

Equilibrium Level

A condition where the supply and demand in the market are equal, leading to steady prices and amounts.

Supply Curve

A visual chart that illustrates how the price of a product correlates with the amount suppliers are prepared to manufacture and sell.