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Problemset Title Introductory Text Self-Study Quiz Question 1 Land matters in an absolute sense because _________ and in a relative sense because ___________. Hint: Chapter 10, Introduction Type: Multiple Choice By Elizabeth Wheaton Feedback for What do the terms absolute and relative mean as they all relate to land? incorrect answers: Answer Graded As Feedback people want land; people are willing to pay for land Incorrect This does not tell why land has value in an absolute and relative sense. the land's location indirectly affects Incorrect The land's location its value; the value of any particular directly affects its piece of land is also affected by the value. uses of the land around it the land's location directly affects Incorrect The value of land is its value; the value of any particular affected by the uses of piece of land is not affected by the the land around it. uses of the land around it the land's location directly affects Correct its value; the value of any particular piece of land is also affected by the uses of the land around it Question 2 Correct! Bid rent functions ________________________. Hint: Chapter 10, The Economics of Land Allocation Type: Feedback for Look at the definition of bid rent functions. Multiple Choice all incorrect answers: Answer Graded As Feedback record the distance to the center of town or urban area Incorrect What else do bid rent functions do? record the net benefits per acre Incorrect What else do bid rent received from each type of land use functions do? convey the maximum net benefit Correct Correct! per acre that could be achieved by that land use as a function of the distance from the center of an urban area convey the maximum net benefit per acre that could be achieved by that land use as a function of the distance from the rural area Question 3 Type: Multiple Choice Incorrect Bid rent functions are based upon the distance from the center of urban areas. Relative decreases in the bid rent function for agriculture could result from ______________. Hint: Chapter 10, The Economics of Land Allocation Feedback for Look at the relative increase in the bid rent function for all agriculture and then consider the opposite. incorrect answers: Answer Graded As Feedback domestic population growth that Incorrect This would lead to an increases the domestic demand for increase in the bid rent food function. Question 4 Type: Multiple Choice closing of export markets for agriculture that decrease the foreign demand for local crops Correct Correct! shifts from subsistence crops to cash crops for exports, thereby increasing the profit per acre Incorrect This would lead to an increase in the bid rent function. lower agricultural transport costs due to the building of new roads into forested land Incorrect This would lead to an increase in the bid rent function. Which of the following is NOT correct? Hint: Chapter 10, Sources of Inefficient Use and Conversion: Sprawl and Leapfrogging Feedback for Look at the definitions of sprawl and leapfrogging. all incorrect answers: Answer Graded As Feedback Urban sprawl occurs when land uses in a particular area are inefficiently dispersed. Incorrect This is the correct definition of sprawl. Leapfrogging occurs when new Incorrect This is the correct development continues not on the very edge of the current development, but further out. definition of leapfrogging. Public infrastructure problems can result from leapfrogging. Incorrect Leapfrogging can cause public infrastructure problems. Leapfrogging occurs when new development continues on the very edge of the current development. Correct Correct! Question 5 The choice to preserve agricultural land or sell it to a developer is biased toward development by each of the following EXCEPT _______. Type: Multiple Choice Hint: Chapter 10, Sources of Inefficient Use and Conversion: Incompatible Land Uses, and Undervaluing Environmental Amenities Feedback for Look at the information on incompatible land uses all undervaluing environmental amenities. incorrect answers: Question 6 Type: Multiple Choice Answer Graded As Feedback zoning Incorrect What other aspects bias toward development? property taxes Incorrect What other aspects bias toward development? undervaluing environmental amenities Incorrect What other aspects bias toward development? increased public awareness of the benefits of conservation Correct Correct! The eminent domain doctrine means ____________. Hint: Chapter 10, Sources of Inefficient Use and Conversion: Market Power Feedback for Look at the definition of eminent domain. all incorrect answers: Answer Graded As the government can legally acquire Correct private property for a "public purpose" by condemnation as long as the landowner is Feedback Correct! paid "just compensation" the transaction of selling land is voluntary Incorrect This would be a and the landowner can refuse to sell market transaction. the transaction of selling land provides a "fair" market-determined price Incorrect This would be a market transaction. the specifics of the selling of land are determined by agreement of both the public and private parties Incorrect This would be a market transaction. Question 7 Special property rights problems in developing countries involve all of the following except _______. Type: Hint: Chapter 10, Sources of Inefficient Use and Conversion: Multiple Choice Special Problems in Developing Countries Feedback for Look at the information about special problems in all developing countries involving land. incorrect answers: Answer Graded As Feedback insecure property rights Incorrect This is a property rights problem in developing countries. the poverty problem Incorrect This is a property rights problem in developing countries. too many financial markets Correct Correct! government failure Incorrect This is a property rights problem in developing countries. Question 8 Establishing property rights can decrease market inefficiencies by __________________. Type: Hint: Chapter 10, Innovative Market-Based Policy Remedies: Multiple Choice Establishing Property Rights Feedback for Look at the information on establishing property rights. all incorrect answers: Answer Graded As Feedback allowing the government to dictate who owns the land Incorrect Although the government enforces the laws, it does not necessarily determine who owns the land. avoiding the problems Correct of over-exploitation of land. Question 9 Correct! making zoning easier Incorrect Zoning requires certain usage of land, but not ownership of the land. decreasing property taxes Incorrect Establishing property rights simply tells who will pay the property taxes. Which provides the correct definition? Hint: Chapter 10, Innovative Market-Based Policy Remedies Type: Feedback for Look at the definitions for wetlands banking, Multiple Choice all conservation banking, safe harbor agreements, grazing incorrect rights, conservation easements, and land trusts. answers: Answer Graded As Feedback Wetlands banking's goal is to offset adverse impacts to a specific species. Incorrect This is conservation banking. Conservation banking is a means of conserving endangered and threatened species on privately owned land. Incorrect This is safe harbor agreements. Grazing rights mean farmers are allowed to graze their livestock on public lands if issued a grazing permit. Correct Safe harbor agreements are legal agreements between landowners and private or public agencies that limit the uses of land in order to protect its conservation values. Incorrect This is conservation easements. Correct! Question 10 Which of the following is NOT a part of the Transferable Development Rights (TDRs) system used to increase the efficiency of land preservation? Type: Multiple Choice Hint: Chapter 10, Innovative Market-Based Policy Remedies: Transferable Development Rights Feedback for Look at the information on transferable development all rights. incorrect answers: Answer Graded As Feedback Local governments identify sending areas and receiving areas. Incorrect This is one part of the TDR system. Landowners in sending areas must buy development rights from landowners in receiving areas. Correct Correct! Landowners in sending areas are allocated Incorrect This is one development rights depending upon the part of the number and quality of development sites TDR system. available on the property. Landowners in receiving areas must buy development rights from landowners in sending areas. Incorrect This is one part of the TDR system.