1. An estate for a state period may be terminated without obligation by either party at any time.

A: True.   

B: False

2. The value of future benefits or future utility is the basic of principle of :

A: substitution,

B: determination,   

C: anticipation,

D: contribution

3. In a space market with flat long- run marginal costs of increasing the supply, an increase in demand for space would be met with

A: an increase in equilibrium price.

B: a decrease in equilibrium price.

C: no change in equilibrium price.   

D: stagnant deflation

4. In the direct capitalization method, net operating income is divided by capitalization rate to arrive at an estimate value:

A: true.

B: false