The basic nature of the real property tenure that was transferred here from England included all of the following characteristics of ownership except
(a) Ownership by purchase was perpetual as long as taxes due were met.
(b) Land could descend to heirs either by will or inheritance.
(c) Ownership included surface resources but not subsurface resources or mineral
rights, like iron ore, whose ownership was retained by the state.
(d) The right to exploit owned resources (right of waste) was complete.
(c)
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Which of the following is a likely outcome of rent ceilings?
A) a surplus of rent-controlled housing B) waiting lists of potential renters of rent-controlled housing C) construction of more rental housing D) black market rents below the ceiling rent
In the above figure, what amount of subsidy per student would government have to provide to colleges if its desired objective was to achieve an efficient level of education, 50 million students per year?
A) $6,000 per year B) $12,000 per year C) $18,000 per year D) $27,000 per year