A Fee Simple Absolute Is an Estate or Interest in Land

question 29

True/False

A fee simple absolute is an estate or interest in land with no ownership limitations other than government regulations on the use of the land.

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Definitions:

Trade Deficit

A situation that occurs when a country imports more goods and services than it exports.

Import

Goods or services brought into one country from another for the purpose of sale.

Tariffs

Taxes imposed by a government on imported or exported goods to regulate trade, and often used to protect domestic industries.

Trade Quotas

Restrictions set by a country on the quantity of goods that can be imported or exported over a specified time period.