Assume There Is No Way to Prevent Someone from Using

question 112

Multiple Choice

Assume there is no way to prevent someone from using an interstate highway, regardless of whether or not he or she helps pay for it. This characteristic is called:

• A) Nonrivalry
• B) Nonexcludability
• C) Nontaxability
• D) Nondiscrimination

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Definitions:

Deficiency Judgment

A court order that holds a borrower personally liable for the shortfall when the sale of a foreclosed property does not cover the outstanding loan balance.

Sale

The passing of title from a seller to a buyer for a price.

Real Property

Land and anything permanently attached to it, such as buildings and trees, considered a form of real estate.

Attachment Process

A legal procedure used by a creditor to seize the property of a debtor in order to satisfy a judgment.