The Government Wants to Take an Open Lot Owned by Sabrina

question 50

Multiple Choice

The government wants to take an open lot owned by Sabrina and build a police station. Sabrina is offered $50,000 for the land, but she wants to keep the land or at least receive more money. Must Sabrina sell the land, and if so, must she sell it for the offered price?

• A) If she owns the land in fee simple absolute, she is not required to sell the land at any price.
• B) Sabrina need not sell the land, however, she can insist the government pays fair market value for the land.
• C) Sabrina must sell the land if the government's use is for a legitimate public purpose, however, she can insist the government pays fair market value for the land.
• D) If she owns the land in fee simple absolute, she is required to sell the land, but she can demand a higher price.
• E) Sabrina must sell the land to the government, and the government must pay the fair market value, unless it is her primary residence, then Sabrina need not sell the property.

Assess the impact of project risks and operational changes on project valuation.

Identify and calculate the tax implications of selling or disposing of assets.

Understand the function and mechanisms of the Federal Reserve System.

Identify the composition and responsibilities of the Federal Reserve Open Market Committee (FOMC).

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Definitions:

Poor Self-worth

A negative perception of one’s own value or worth, characterized by low self-esteem and a lack of confidence in one’s abilities or qualities.

Fixation

A state in which an individual becomes obsessed with an attachment to another person, object, or developmental stage.

Psychosexual Development

A Freudian concept detailing the stages of development from infancy to adulthood, focusing on how the pleasure-seeking energies of the id become focused on certain erogenous zones at different ages.

Conflict

A serious disagreement or argument, typically a protracted one, that can occur between individuals, groups, or nations.