answer key Ch.2

which one of the following would be one of the more indirect government actions to influence the economy?

closure of defense facilities

the residential rental market corresponds roughly to

cycles in multifamily housing starts

Which of the following best describes a market?

exchange of goods between buyers and sellers

the four phases of the business cycle are

expansion, recession, contraction, revival

the financial and operational strategy for the ongoing management of a property is the

management plan

a property manager can measure economic trends through all the following EXCEPT

operating budget

Which of the following is the first step in the management plan?

prepare an operating budget

long-term movements in the real estate industry may be _____ those in the general economy

shorter than

If a property manager wants to find out if occupancy levels for a given type of property are rising or falling, he or she should

survey comparable properties

more available units than tenants indicates

technical oversupply