What happens to demand and price during times of inflation?
What will be an ideal response?
Answer: Demand for goods and services increases and prices increase during times of inflation; this results directly from too much money in an economic system. In contrast, deflation occurs when the supply of goods outpaces the supply of money, so demand for goods and services falls.
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Which of the following would LEAST likely be included in a property management agreement?
A. Description of the property to be managed. B. Property manager's compensation. C. Rental rate per unit. D. Manager's periodic reports.
George and Suzanne have been married for 40 years. Suzanne inherited $3,000,000 from her mother. Assume that the annual gift-tax exclusion is $14,000. What amount of the $3,000,000 can Suzanne give to George without incurring a gift-tax liability?
A. $14,000 B. $28,000 C. $1,500,000 D. $3,000,000