1. When a jurisdiction concludes that environmental impact reports are required on any new development in an area, the likely immediate result is that
A. Developed properties suffer
B. Vacant land values increase
C. Vacant land values decrease
D. None of the above
2. The power of government to regulate for the public health, safety, and welfare is known as:
A. the police power
B. the power of eminent domain
C. states’ rights
D. sovereignty
3. An estimate of replacement cost would include the cost of all of the following except:
A. entrepreneurial profit
B. super-adequacies in the subject property design
C. construction loan interest
D. property taxes during the construction period