Mario Bought a Small House in Nelson and Was Puzzled

question 118

Multiple Choice

Mario bought a small house in Nelson and was puzzled when he saw the conveyancing documents, which referred to a transfer of a "fee simple." The following statements were made to him to explain the term. Which is correct?

• A) Technically, only the Crown owns the land, but the fee simple interest is the greatest bundle of rights, other than the Crown's, a person can own.
• B) The owner of the fee simple has the right to exclusive possession of the land until his death.
• C) If the owner of the fee simple dies without a will, his estate reverts back to the Crown.
• D) The owner of the fee simple has rights to the surface of the earth and also unlimited use of the airspace above his property.
• E) The owner of the fee simple also owns what is below the land, including mineral rights.

Differentiate between major-specific job market outcomes during economic fluctuations.

Identify factors contributing to market efficiency.

Calculate the opportunity cost related to personal decisions and economic transactions.

Relate the concept of opportunity cost to production and service outsourcing decisions.

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Definitions:

Theory

An organized system of assumptions and principles that purports to explain a specified set of phenomena and their interrelationships.

Informed Consent

The doctrine that anyone who participates in human research must do so voluntarily and must know enough about the study to make an intelligent decision about whether to take part.

APA Code

The ethical guidelines set by the American Psychological Association for psychologists.

Human Welfare

The general health, happiness, and safety of a person or population, often used as a measure of the effectiveness of social policies.