If the property remains listed for more than 30 days with no potential buyers, what does the agent need to complete?

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Answer 1

Real estate listing agreements can range from 30-days to a year, depending on the movement of the market and the location of the home. A cancelled contract may not always absolve the seller from paying the original brokerage a commission.

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Assume the US economy is in equilibrium. For each of the short-run situations (A-J) below, answer the following questions (i-iii):

1. Explain what shifts in the equilibrium diagram, and why.
2. What is the outcome of that shift (what happens to real GDP and PL)?
3. Is the result an inflationary gap, recessionary gap, stagflation, or increase in SRAS?

a. Consumers become confident in the future of the economy.
b. The government increases regulations on businesses.
c.The government increases spending.
d. New policies lead to more Americans having health care.
e.Home values, nationwide, significantly increase.
f.The value of the USD increases against foreign currencies.
g.Oil prices suddenly increase.
h.The government decreases personal income taxes.
i.The Chinese become wealthier.
j.Interest rates in the US increase.

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Answer:

Assume the US economy is in equilibrium. For each of the short-run situations (A-J) below, answer the following questions (i-iii): i. Explain what shifts in the equilibrium diagram, and why. ii. What is the outcome of that shift (what happens to real GDP and PL)? iii. Is the result an inflationary gap, recessionary gap, stagflation, or increase in SRAS? A. Consumers become confident in the future of the economy. B. The government increases regulations on businesses, C. The government increases spending. D. New policies lead to more Americans having health care. E. Home values, nationwide, significantly increase. F. The value of the USD increases against foreign currencies. G. Oil prices suddenly increase. H. The government decreases personal income taxes. 1. The Chinese become wealthier. J. Interest rates in the US increase.

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