Study questions for the final exam. Bring one or two (at your option) large format blue books to the exam. Do not place your name on the blue book as I will collect them, mark on them, and redistribute them to the class - randomly. I will select a subset of the following to comprise the actual second exam.
Question 1:
Demonstrate, derive and prove the following:
Part A: Transportation cost, direct effects:
Derive the direct effects from a decrease in transportation cost.
Part B: Transportation cost, indirect effects:
Using the results of 1.A, derive the indirect effects in a:
a. open city
b. closed city
Part C: Judgmental report
Compare the results as an envelope of possibilities.
Question 2:
Part A: Portray the direct effects upon utility from the introduction of a low cost transportation node, which is the equivalent of introducing a new destination (such as an employment center, or shopping center) on the landscape.
Part B: Using the results from 2.A, portray the indirect effects on utility, land rent, population density in:
a. Open city
b. Closed city
Question 3:
Part A: Portray the final direct effects upon utility from the introduction of a public good compliment to land. Give an example of a public good substitute. Portray the final indirect effects in:
a. an open city
b. a closed city.
Part B: Portray the final direct effects upon utility from the introduction of a public good substitute to land.Give an example of a public good substitute. Portray the final indirect effects in:
a. an open city
b. a closed city.
Question 4:
Part A: Who was Henry George? What is the Henry George theorm?
Part B: Portray the final direct and indirect effects upon utility, land values, and population density, from the introduction of an ad valorum property tax. Portray the final indirect effects in:
a. an open city
b. a closed city.
Question 5:
Part A: Demonstrate the effect upon land values if zoning for population density is set to be below what the market will support.
Part B: Demonstrate the effect upon land values if zoning for population density is set to be above what the market will support.
Question 6:
Say that developers on the west side of the city of Alachua are proposing a new Hale Plantation like subdivision, similar in size (2000 acres), amenities, housing units, and a Butler Plaza (1.2 million sq. ft) like power center. Part of the development design includes large acreage designated as light industry employment centers. Comment on the market and viability of such a development at the proposed location. Draw extensively on the general theory (Thrall, 1987, 2002) presented this semester in this course.