An Increase in Rent Would

question 126

Multiple Choice

An increase in rent would

• A)increase the demand for land.
• B)decrease the demand for land.
• C)increase the supply of land.
• D)decrease the supply of land.
• E)None of the choices are correct.

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Definitions:

Charges

Fees or financial obligations imposed by an entity for services rendered or as penalties for non-compliance with laws or regulations.

Account

A record summarizing the financial transactions pertaining to a specific period or purpose, such as savings or checking in a bank.

Agency by Ratification

A situation where actions taken by a person who is not officially an agent are approved and accepted by the principal after the fact, thereby creating an agency relationship.

Affirms

To declare something to be true, confirm, or ratify, especially in a legal context.