Thrall, Grant Ian. 2002. Business Geography and New Real Estate Market Analysis. Oxford University Press: London and New York.
These questions have been written and provided by students enrolled in classes using Professor Thrall's 2002 book.

• Click here for answers.
  
• Go To Questions covering Part I, Chapters 1-4
• Go To Questions covering Part II, Chapters 5-10

1. The geographic pattern of land use and land values is referred to as ______.
A. Urban Sprawl
B. Urban Assault
C. Urban Growth
D. Urban Form

2. The study of urban form over time can be referred to as ______.
A. Urban Transition Urban Morphology
B. Urban Morphology
C. Suburban Growth
D. Urban Evolution

3. The US Census Bureau creates tract boundaries to contain relatively uniform populations sharing similar social and economic characteristics and living conditions, having about ______ people.
A. 2,000
B. 8,000
C. 4,000
D. 16,000

4. Which of the following measurements of accessibility is generally preferred by market analysts for retail facilities such as restaurants, drug stores, and so on?
a.) transportation cost
b.) transportation time measurements
c.) circle measurements
d.) as the crow flies
e.) Manhattan distance

5. Why is the use of race and ethnicity measurements an exception and actually seldom used in real estate market analysis?
a.) The market analyst must ethically and legally maintain professional decorum.
b.) There are better measurements available to the real estate market analyst than race and ethnicity.
c.) Race and ethnicity have become outmoded descriptive measurements of population subgroups.
d.) By not including race and ethnicity in the analysis, it is thought that racial or ethnical biased results will not enter into the analysis.
e.) All of the above

6. What does the market analyst rely on today that is superior at capturing and identifying unique and important traits of population subgroups?
a.) Neighborhoods
b.) Race and ethnicity
c.) Lifestyle segmentation profiles 
d.) Gender
e.) Income

7. What are the big five components that a real state decision-maker must integrate into their Risk Management and Decision Making?
a  Location, timing, product, price, and contract
b  Conversion, location, timing, price, and contract
c  Race, location, product, price, and contract
d  Cycles, timing, product, price, and contract

8. The supply of a particular type of real estate asset that is in the planning or construction phase is:
a. The retrofitting of Real Estate assets
b. The pipeline of Real Estate assets
c. The conversion of Real Estate assets

 9. The business geographer market analyst engaged by a multi-branch retail company would derive projections over time of
a.  population growth
b. store revenue
c. birth rate
d. store losses
e. store revenue and store losses

10. According to Dr. Thrall’s analogy the “prisoners dilemma” refers to:
a. the indictment of John Walker as it correlates to the fall in real estate markets in the US and abroad
b. the greatest realized increase in revenue from renovated rental property
c. the devaluation of real estate that occurs if the owner is convicted of a felony
d. the dilemma of whether or not to maintain real property based on the actions of fellow property owners.

11. According to Dr. Thrall, changes in manufacturing technology can best explain:
a. manufacturing today having lower capital to land ratios than in the 19^th century
b. dispersal of populations away from traditional industrial centers
c. Both A & B
d. Neither A or B

 12. According to Dr. Thrall, one of the benefits a traditional “Downtown” has over the “Suburbs” during the past 30 years has been:
a. Opportunities for greater household welfare through lower crime rates
b. More technological infrastructure
c. Central meeting – socialization place
d. None of the above

13. Which of the following is an example of a pure private good?
 a. Krishna chant on the university plaza
 b. a vitamin pill
 c. the University of Florida
 d. an aircraft carrier

14. Which of the following is an example of a pure public good?
a. laptop computer
b. aircraft carrier
c. cup of coffee
d. Dr. Thrall's Porsche

15. A Business Geographer...
a. evaluates the impact a development will have upon the urban area.
b. calculates and makes available what the local multiplier will be.
c. will asses the appropriate property tax necessary to sustain the    
local government.
d. evaluates whether there is a market to support the development of a
particular location.

16. Which among the following has was the most important contributor to the decline of the downtowns of many cities in the US during the second half of the twentieth century?
 a. National Highway Defense Act
 b. Inappropriate Business Geography decisions
 c. The “malling” of America
 d. Increased inner-city crime
 e. The industrial revolution

17. Which of the following determines market value?
 a. Real estate market analysis.
 b. Development cost.
 c. The realized revenue stream.
 d. An empirical formula.

18. Sub markets are  ________ with one another and each is __________ with the whole.    
 a. Interdependent : Independent.
 b. Independent : Independent.
 c. Interdependent : Interdependent.
 d. Independent : Interdependent.
 
19. What is the difference between business geography and traditional economic geography?
a. Economic geography includes the research on business geography.
b. Business geography improves the business decision.
c. Economic geography integrates geographic analysis, reasoning, and technology for the improvement of the business judgmental decision.
d. Business geography is a kind of descriptive geography.

 20. Which of the following is are steps with Professor Thrall’s  hierarchical categories of geographic reasoning?
a. Description and Explanation
b. Prediction and Judgment
c. Management and Implementation
d. All these answers

21. The preface suggests that which of the following statement is correct?
a. Today academics in both geography and real estate have pursued the same problems, with the same objectives, but different methods, because GIS is only used by geography.
b. Professor Thrall's book "Explanation in Geography" heralded a several decade long development of explanatory reasoning in geography.
c. Explanatory knowledge, not descriptive knowledge, has been demonstrated to improve decision-making by practitioners.
d. A new real estate market analysis could be more productive, more accurate, and more valuable to the judgmental decision by using business geography technology and methods.

22. The average business has _____ of its assets in real estate.
a. 5%
b. 10%
c. 25%
d. 85%

 23. Which of the following are not among the business geographer’s primary responsibilities?
a. when to sell
b. where to build
c. when to build
d. what price
e. the business geographer is not responsible any of the items on the list

 24. In ____, TIGER/Line geographic data was first published by the _____.
a. 1980 : US Census
b. 1990 : US Census
c. 1990 : USGS
d. 1992 : USGS
e. none of the other answers

25. The Gravity model based on Newton's hypothesis states that the interaction between two objects ________ as distance increases.
a. increases
b. decreases
c. remains constant
d. remains interdependent

26. Using the Reilly Model equations, business geographers can:
a. examine competition between market centers
b. develop methods for estimating consumers expenditures
c. estimate market area boundary
d. all of the above

27. Although the Reilly Model is noted for its simplicity, it uses Euclidean geometry to calculate which of the following?
a. consumer taste
b. breakpoint of market area dominance
c. average employee commute time


28. What did Ricardo hypothesize that high rents were attributable to?
a. External Market Forces
b. The Consumption Theory of Land Rent
c. The “niggardliness of nature”
d. The most productive land

29. From the Ricardian world perspective, land value depends upon
a. absolute location
b. determinable market forces
c. the bidding process of the market
d. absolute and relative productivity of land

 30. One of the shortcomings of Ricardian land rent theory is that it
 a. location was not directly accounted for
 b. it placed greater emphasis on absolute location at the expense of relative location
c. it was valid only for England and Wales early in their industrialization

31. An _____ city is defined as one where the population can change, and spatial  equilibrium welfare is constant.
a. open
b. free
c. populated
d. metropolitan

32. Examples of budget constraint shifters include:
a. pension, transportation type, and taxes
b. inheritance, transportation time, and taxes
c. income, transportation cost, and taxes
d. benefits, transportation infrastructure, and taxes

33. Examples of utility shifters include:
a. transportation, housing, and shopping
b. driving, amenities, and location
c. commuting, zoning, externalities, and public goods
d. eating, sleeping, and drinking

34. If land prices R[s₁] decreases to R[s₂], what would be the effect in the indifference curve U?

a. Figure A
b. Figure B
c. Figure C
d. None of these figures

35. In Professor Thrall’s Consumption Theory of Land Rent, what is the equation for the budget constraint?
a    z = (y+ks)/q - (r/p)q
b    z = (y-ks)/p-(r/p)q
c    z = (y-ks)/r - (r/p)q
d    none of these possibilities represent the budget constraint

36. If distance from a CBD increases, then all other things being equal
a. land price would increase.
b. land price would remain the same.
c. land price would decrease.

37. In regression analysis, a real estate market analyst may encounter the following problems:
a. multicollinearity
b. numerous independent variables
c. spatial autocorrelation
d. all these answers

38. The concept of "residual" was discussed in Thrall (2002), and explored by Cottrell (1973) and Ghosh & McLafferty (1987). They considered "residual" to be the effect of:
a. store management
b. store sales
c. store area
d. none of the above

39. According to Thrall (2002), "analog Regression" is different from "regression" in that:
a. Analog Regression is a technique in which "the performance of the store is usually the dependent variable."
b. Analog Regression is a technique in which "the market share of submarkets of the store's trade area is used as the dependent variable." 
c. Analog Regression has the anti-log of a data field as the dependent variable.
d. Analog Regression has the log of a data field as the dependent variable.

40. Which of the following is NOT a general step included in all real
estate market analysis?
a. establish a trade area
b. evaluate the competitive position of the project
c. risk analysis
d. measure demand

41. Following the tradition of geographer William Applebaum, Thrall in his 2002 book defines the primary trade area as having _____ per cent of the customers.
a. 70
b. 75
c. 80
d. 85

42. According to Applebaum’s principles, why could contemporary regional malls and power centers often out-compete stand-alone stores with superior locations?
a. Market penetration
b. Potential sales
c. Store size and store function
d. Agglomeration      

43.  Both Von Thünen’s & Ricardo’s theories of land value:
a. assume an isotropic surface
b. are based upon agricultural productivity
c. are based upon decision makers in the urban market center
d. assume an isotropic surface and are based upon agricultural productivity

44. Von Thünen is not credited with having added which of the following to land value theory:
a. "absolute location & relative spatial location"
b. "absolute & relative productivity of land"
c. "highest and best use"
d. "opportunity costs"

45. Von Thünen’s land use equation can be written:
               Land Rent = Total Revenue - Total Cost - (_________)
a. Total Transportation Cost
b. Total Manufacturing Cost
c. Total Production Costs
d. None of the above

46. Among the general methods for geographically delineating a trade area are:
a. rules-of-thumb
b. gravity models
c. spatial interaction models
d. all of these answers

47. What is the rule-of-thumb concerning the appropriate radius to use to represent the primary trade area?
a. They are specific to various real estate product niches.
b. 70-80%
c. 8 miles
d. transportation corridors
e. 5, 10, 15 minute driving times from a central place

48. The use of _________ is a common problem that creates unnecessary error in trade area analysis.
a. demographic measurements
b. irregular polygons
c. circular trade areas
d. transportation networks
e. drive time estimations

49. As land consumption increases, population density _____.
a. decreases
b. increases
c. remains constant
d. remains unequal
e. reaches its threshold

50. Land prices and population density must _____ with increasing distance from the CBD, all other things being equal.
a. decrease
b. increase
c. reach a threshold
d. remain constant
e. remain unequal

51. The urban periphery generally occurs where it does in the United States, in the absence of physically constraining factors, because
a. population density naturally declines
b. transportation cost exceeds households' incomes
c. agricultural land prices is greater than urban land prices at the urban periphery
d. the cost of necessary urban infrastructure is greater than what new residents are willing to pay at that location
e. none of these answers

52. The term "pipeline" in real estate market analysis refers to:
a. data used to measure the appraisal value of available property.
b. real estate at various stages of planning and construction, and before a certificate of occupancy has been issued.
c. real estate after a certificate of occupancy has been issued, but before tenants have moved in.
d. None of the above.

53. What from Thrall’s discussion of Comps.com data would disqualify it from being used as the sole measurement of real estate supply in the near future?
a. Comps.com data only includes commercial real estate that has been issued a certificate of occupancy.
b. Comps.com data is too sporadic within markets it purports to cover.
c. Comps.com data is unreliable.
d. None of the above.

54. Why are wealth measurements important for demand estimation?
a. They indicate the purchasing capacity of households for residential property.
b. Wealth measurements indicate the demand by households for goods and services obtained from commercial real estate structures.
c. Wealth measurements show the real estate needs of business enterprises such as office space.
d. All of the above.

55. Using ESRI’s kernel method, the ____ shaded areas represent locations of greater density than those areas demarcated in ____ shades.
a. lighter : darker
b. darker : lighter
c. green: blue
d. red : yellow

56. People with similar LSPs tend to live in _____ proximity to one another and thereby form neighborhoods of people sharing similar lifestyles and demographic profiles.
a. close
b. distant
c. unknown

57.  In  _____ customer spotting method, the first step is to create a map of the geographic location customers.
a. Hoyt's
b. Pruett's
c. Applebaum's
d. Reilly's

Go To Top Of Page

Questions Covering Part 2, Chapters 5-10

58. Market analysts using which of the following are most likely to establish a realistic trade area for housing? (chapter 5)
a. Rule-of-thumb techniques involving drive time or radial distance
b. Contractor's banking recommendations
c. Assessment data retrieved with SQL-like queries
d. Both Rule-of-thumb techniques and Assessment data retrieved with SQL-like queries

59. Using a VB (Visual Basic) application, a user could create a query that is designed to retrieve what type information? (chapter 5)
a. Information found in records regarding Department of Revenue Codes
b. Any information stored in a proprietary dBase file
c. Specific records of property assessment files
d. All of these answers

60. Business Geographers and market analyst of the 21st century must have knowledge of which of the following? (chapter 5)
a. Software programming
b. Database management software
c. Access to someone with that requisite knowledge
d. All of these answers

61. During the post WWll era, which person wrote about diffusion as a process in which phenomena that can change location, originating from single or multiple sources, can in time spread through a space? (chapter 5)
a. Hagerstrand
b. Veblen
c. Hoyt
e. Applebaum

62. What does P stand for in the equation for the logistic "S" curve? (chapter 5)
a. the rate of diffusion of the phenomenon
b. time
c. the asymptote
d. the intercept
e. the slope of the line

63. As market penetration of the submarket increases and saturation occurs, where does development occur next according to the diffusion process? (chapter 5)
a. a submarket in the opposite direction
b. a built-out submarket
c. an adjacent submarket
d. a popular submarket
e. a declining submarket

64. What is the housing occupancy of the land area of a typical city? (chapter 5)
a. 50%
b. 60%
c. 70%
d. 80%

65. The ___________ index became a popularly accepted measure of transformation to economic prosperity for the U.S. middle-income household. (chapter 5)
a. autos manufactured
b. housing starts
c. interest rates discounted for inflation
d. new shopping center square footage

66. What was the percentage of single family dwelling at the start of the 21st century that make up all new housing? (chapter 5)
a. 81%
b. 70%
c. 65%
d. 54%

67. When the price is greater, less housing will be purchased; likewise, when the price is lower, more housing will be purchased. This behavior is known as which of the following? (chapter 5)
a. "general" good
b. "usual" good
c. "common" good
d. "normal" good

68. In his book, The Theory of the Leisure Class, __________ introduced the phrase "conspicuous consumption," used to describe the competition for social status. (chapter 5)
a. Thorstein Bunde Veblen
b. Grant Ian Thrall
c. William G. Gigsby
d. Frank Lloyd Wright

69. Style trends might give rise to "_____ bubbles" of short duration for a style of housing, or even for a neighborhood style? (chapter 5)
a. double bubbles
b. inflation bubbles
c. supply bubbles
d. style bubbles
e. demand bubbles

70. According to Bourassa and Grigsby 2000, about ______ of households in the US and Canada live in apartments? b. (chapter 5)
a. 10%
b. 30%
c. 50%
d. 20%

71. In the book Business Geography and New Real Estate Market Analysis, the cut off to develop a new project, or not, is said to be in the range of ______ to ______ projected vacancy. (chapter 5)
a. 5%, 10%
b. 10%, 15%
c. 3%, 6%
d. 6%, 12%

72. In the book Business Geography and New Real Estate Market Analysis, the value that GIS brought to the apartment example of real estate market analysis for a new apartment development was: (chapter 5)
a. increased accuracy
b. increased productivity
c. overall improved analysis over pre GIS methods
d. improved judgmental decision
e. all of these answers

73. The absorption rate is measured as the number of apartment units that if built, can be rented within a particular ______. (chapter 5)
a. price range
b. time period
c. vacancy rate range
d. all of these answers
e. price and time

74. Which of the following can be used as surrogate measures of apartment type and revealed target demographic niche? (chapter 5)
a. Renters' races
b. Renters' average income
c. Renters' social status
d. Renters' LSPs (lifestyle segmentation profiles)
e. Median rent

75. The apartment example in the book Business Geography and New Real Estate Market Analysis, it is found that as the year in university increased, the proportion of students residing inside the primary trade area ______. (chapter 5)
a. increased
b. decreased
c. constant
d. no correlation was found between school year and residence location

76. Today in the 21st Century, business geographers performing market analysis. (chapter 5)
a. routinely create forecast data themselves.
b. routinely buy forecast data from private data venders versus creating the forecast data themselves.
c. routinely follow procedures established as "best practice" by the national certification board of business geographers.
d. must have advanced degrees in the field of "business geography."

77) The final report of a business geographer should include ______________. (chapter 5)
a. findings on the trade area.
b. findings on the supply of competitive real estate product.
c. findings on the demand estimates for the real estate product.
d. findings on relevant socio/political situation in support or opposed to the development of the real estate product.
e. all of these answers

78. A market analyst needs a description of the overall project within the wide context of the forces that are shaping the ___________ environment. (chapter 5)
a. state economic
b. regional natural
c. local urban built
d. national business

79. Which GIS procedure can be used to aggregate selected attribute values between data layers? (chapter 6)
a. point-in-point
b. point-in-line
c. point-in-polygon

80. How many steps are necessary for demand analysis for office? (chapter 6)
a. 3
b. 4
c. 5

81. Where does the demand for office space come from?
a. people wanting more jobs
b. firms seeking quarters for their clerical, supervisors, and management personnel
c. the urban and regional planning department

82. What types of analysis will a multi branch retail chain use? (chapter 7)
a. analysis at the macro scale
b. analysis at the micro scale
c. analysis at both macro and micro scales

83. In the book Business Geography and New Real Estate Market Analysis, how many steps does the author use in the multi-branch retail chain expansion strategy? (chapter 7)
a. 7
b. 8
c. 9

84. What is a geographic inventory?
a. a list of geographic features by location
b. a list of weather forecasts
c. a list of facilities by sub-market
d. both a list of geographic features by location, and a list of facilities by sub-market

85. The most common data format for the purpose of exporting subsets of data such from the F.W. Dodge database is ____________. (chapter 6)
a. "*.dbf"
b. "*.html"
c. "*.xls"
d. both dbf and xls
e. all of the formats listed here

86. All of the following are valid tabs on the Comps.com data query result window except ____________ (chapter 6)
a. Primary Trade Area
b. Photo
c. Contacts
d. Plat Map
e. all of the above

87. SQL in GIS software includes ______________. (chapter 6)
a. Accurate space time modeling
b. Spatial selection
c. Automated retail site selection
d. Spatial equilibrium analysis

88. Data fields normally included within office market data bases include all but _______________. (chapter 6)
a. Number of office employees
b. Rent
c. Cost of construction
d. Race of surrounding population
e. All the above

89. After the proprietary or comparative data is acquired, the analyst when assessing relative performance of branch facilities first will construct a map of _____________ in all branches. (chapter 7)
a. all customers
b. earnings to debt ratios
c. site development cost
d. annual point of sale counts
e. actually, the analyst will first construct maps other than those listed here

90. Instead of shuffling back-and-forth between two sets of maps, qualitative assessment is enhanced with the GIS ______. (chapter 7)
a. statistical Regression Analysis
b. SQL Query
c. multiple Theme Mapping Capabilities
d. overlay Option
e. none of the answers listed here.

91. Howland and Wessel's hedonic model projects growth of office demand by SIC code while also using absolute spatial location: (chapter 6)
a. True
b. False

92. What geographic concepts did Bollinger, Ihlanfeldt, and Bowes' hedonic model confirm were important in determining office rents? (chapter 6)
a. relative location
b. agglomeration
c. absolute location
d. relative location and agglomeration

93. Measuring the strength and importance of hedonic variables, via the process of regression, is referred to as (chapter 6)
a. personal on-site inspection of the market
b. calibrating the model
c. talking with experts
d. determining market demand for the space available

94. What is calculated when determining the "carrying capacity" of a business within a market area? (chapter 6)
a. profit margin
b. demand thresholds
c. cannibalization between sister units of the same chain
d. all of these answers

95. When market penetration is measured as high for an MSA, then (chapter 6)
a. the market for a particular firm is not saturated.
b. the market should be able to support additional units.
c. no additional openings should be scheduled.

96. Likely candidates for the expansion in a submarket should be identified to _____ (chapter 6)
a. minimize the cost of the site visits
b. increase productivity
c. minimize error of locating in a market that doesn't meet expectations
d. all of these answers

97. The Geographic boundaries of an office submarket are established with a goal of ____ the variation in the descriptive characteristics and phenomena that characterize the office submarket. (chapter 6)
a. minimizing
b. maximizing
c. increasing
d. equalizing

98. The ____ is the office submarket, the more variation there will be within the office submarket. (chapter 6)
a. larger
b. smaller
c. lower
d. straighter

99. The primary trade area of an office building or office submarket may be defined as that geographic area which contains ____ of the employees. (chapter 6)
a. 80%
b. 50%
c. 25%
d. 10%

100. The ____ of a retail outlet is the geographic context within which the site resides. (chapter 7)
a. situation
b. size
c. prestige
d. success

101. The business geographer analyst expects that if two retail branches in different locations have the same situational characteristics, then two retail branches should have ____ performance. (chapter 7)
a. the same
b. the best
c. very different
d. unrelated

102. Traffic volume may increase because of the presence of a traffic ____, such as a destination regional mall or multi-screen movie theatre complex. (chapter 7)
a. generator
b. flux capacitor
c. light
d. jam

103. In writing a final report for the identification of prospective new office sites, the market analyst should integrate (chapter 6)
a. input from employees
b. input from Human Resources and Real Estate Divisions
c. methods for contract negotiation and legal concerns
d. input from employees, and from Human Resources and Real Estate Divisions
e. all these answers

104. When identifying a potential site for an office, the business geographer should not consider: (chapter 6)
a. quantitative market analysis
b. criteria from departments, such as Human Resources
c. analysis on the effect on drive time
d. qualitative analysis
e. actually, all of these answers should be considered

105. If at the county level, there is more office space available than required, the market analyst _____ (chapter 6)
a. should recommend not building, as no further space will be absorbed
b. should recommend building, because the proposed office building will be extra fancy with marble floors and a beautiful water fountain in the exterior lobby, and therefore will attract sufficient tenants from existing occupied buildings.
c. should recommend building on the basis that it just might work regardless of what the analysis indicates, and in time everything works out.
d. should recommend analysis at submarket level to determine if individual submarkets might have higher absorption rates
e. none of these answers

106. Which approach to retail location strategy maximizes costs? (chapter 7)
a. trial-and-error
b. pedestrian counts
c. GIS analysis
d. kernel method
e. none of the above

107) How many stages does book author Grant Thrall refer to in his "Timeline of Location Based Market Analysis"? (chapter 7)
a. 3
b. 4
c. 5
d. 6
e. 7

108. Who first used the gravity model to calculate the market area around shopping centers? (chapter 7)
a. Carey
b. Ravenstein
c. Reilly
d. Zipf
e. Huff

109. The hypothesis of the Hedonic market approach is that a variety of phenomena contribute in one way or another to determining ________ (chapter 6)
a. building to parking space ratio
b. real estate profit margin lost that year
c. market rent
d. number of regional surveys received

110. Hedonic models might also include the use of "dummy variables" in an equation to represent the presence of ________________. (chapter 6)
a. padding used to protect the first guess made by the business geographer
b. some independent variable contributing to the final outcome
c. any ideas not backed by hard money
d. none of the above

111. In their office market analysis, Cannady and Kang's use of "straight-line distance measurements" is criticized because the technique does not take into account __________ (chapter 6)
a. barriers or obstacles that must be traversed around
b. square footage of office space within CBD
c. distance to retail employment demands

112. Real Estate dealmaker is responsible for _________ (chapter 7)
a. driving the location decision for a good deal
b. surveying potential consumers concerning their ideas
c. combining recommendations of market analysts with personal expertise
d. all of these answers

113. With the advent of geography technology, the real estate market analyst is still required to _____________ (chapter 7)
a. evaluate data using experience and desk-bound reports
b. drive the city and visit the perspective site
c. consult with real estate deal maker and combine recommendations
d. all of these answers

questions from fajita o'connor vwfajita@hotmail.com 03/28/2002

114. If in the process of manufacturing, there is ___________ in weight, bulk, fragility, perishability, or hazard, then the manufacturing firm will locate where the resources are located. (chapter 6)
a. an increase
b. no change
c. decrease

115. If in the process of manufacturing, there is ___________ in weight, bulk, fragility, perishability, or hazard, then the manufacturing firm will be biased to locate near or at the market where the final product is consumed. (chapter 6)
a. an increase
b. no change
c. decrease

116. If a manufacturing firm wants to be competitive nationally, it would require which type of transportation facility? (chapter 6)
a. deep water port at the site
b. national rail lines at the site
c. interstate highway at the site
d. both national rail lines at the site and an interstate highway at the site

117. A market analyst ____________ (chapter 6)
a. is responsible for the creation and assembly of information on market conditions for office and industrial space at a site
b. evaluates the market from the perspective of the large macro scale and then down to the local or micro scale
c. performs the supply and demand analysis specific to the market area
d. all of these answers

118. This category of retail center is usually configured as a straight-line strip with no enclosed walkway. (chapter 7)
a. community
b. regional
c. neighborhood

119. his category of retail center is usually enclosed with an inward orientation of the stores connected by a common walkway and parking located outside the perimeter. (chapter 7)
a. community
b. regional
c. neighborhood

120. The following is an example of competition among different strategic groups in retail market analysis: (chapter 7)
a. Big Lots and Sears
b. Burger King and McDonalds
c. Wallmart and Kmart
d. Gap and Old Navy

121. A value added platform is ________ (chapter 7)
a. the value of the cost to produce the goods from the retail value of the goods
b. the value of the range of products offered by the retail chain within the mind of the consumer.
c. the full experience the consumer receives from the purchase and consumption of the good or service.
d. the value of the range of products offered by the retail chain within the mind of the consumer, AND the full experience the consumer receives from the purchase and consumption of the good or service
e. the value of the cost to produce the goods from the retail value of the goods, AND the value of the range of products offered by the retail chain within the mind of the consumer.

122. Stage #4 of retail market analysis is different from the other stages in that _______________ (chapter 7)
a. it was the first stage to use Desktop GIS technology
b. it is focused on the overall "image" of the retail business
c. it focuses on attitudes and shopping behavior of prospective customers
d. none of these answers
e. it focuses both on the overall "image" of the retail business, as well as on attitudes and shopping behavior of prospective customers

123. Office market demand analysis does NOT include _______ (chapter 6)
a. estimates of white collar employment for a chosen base year and projected number of white collar employees in a future target year.
b. computations of the square footage of office space per white collar employee.
c. computations of the growth of white collar employees
d. forecasts of white collar office space consumption
e. computations of gross white collar income.

124) Which occupation would not be considered white collar for the purposes of office market analysis? (chapter 6)
a. executive, administrative and managerial
b. professional specialty (consultants)
c. technical and technical support
d. delivery driver specialist
e. sales

125. In the Hillsborough County office market analysis example, the amount of property in the Westshore office sub-market "that can be sold or rented" is known as _______________. (chapter 6)
a. leveraged income property
b. office macro-market
c. absorption
d. none of these answers

126. When establishing retail trade areas in mixed-use development (MXD), the real estate market analysts must calculate ____________ for each of the key land uses within the mixed-use development (MXD). (chapter 9)
a. rule-of-thumb techniques
b. Department of Revenue codes
c. the trade area
d. none of these answers

127. When evaluating an MXD (mixed-use development), the business geographer market analyst must include qualitative findings on ________. (chapter 9)
a. trade area, demand, and competitive supply
b. political impact, greediness of developers, dollar amount of bribes required to zoning officials
c. specific records of property assessment files
d. None of these answers

128. When estimating competitive supply within an MXD (mixed-use development), the business geographer market analyst must include calculations on ________. (chapter 9)
a. current supply of competitive real estate product, and competitive real estate product in the pipeline
b. independent management software
c. nothing, because mixed-use development is always desirable, feasible, and profitable

129. The most important variation in manufacturing costs facing most firms is variation from location to location in ____________. (chapter 6)
a. capital
b. land
c. labor
d. taxes

130. As explained by Grant Thrall in his book Business Geography and New Real Estate Market Analysis, a commonality not found among amenity cities (such as Portland, Oregon; Boulder, Colorado; and Santa Fe, New Mexico) was ___________. (chapter 6)
a. strong and highly regulated urban planning
b. a great amount of surrounding beautiful scenic natural environment
c. a thriving historic central business district (CBD)
d. urban sprawl

131. Which of the following is the correct rank order of importance of variation in manufacturing costs that a typical manufacturing firm faces? (chapter 6)
a. Labor, Capital, Land, Energy, Heating, Waste Disposal, Taxes
b. Labor, Capital, Land, Heating, Energy, Waste Disposal, Taxes
c. Taxes, Capital, Labor, Land, Heating, Energy, Waste Disposal
d. Taxes, Capital, Waste Disposal, Labor, Heating, Land, Energy

132. The business geographer market analyst has the challenge to improve judgmental decisions on a wide array of characteristics related to a project, including _____________. (chapter 7)
a. identification of sites and situations that offer an advantage
b. evaluation and recommendation of the sequence that should be followed to achieve high market penetration
c. evaluation of the performance of existing retail projects
d. recommendation of the best tenant mix
e. all of these answers

133. The large demand for the “business geographer / real estate market analyst” exists because of ______________. (chapter 7)
a. the increasing complexity of the City
b. the value given to the type of advice given
c. the availability of new geographic technology allowing the job to be done in a highly accurate and highly productive manner
d. all of these answers

134. Kevin Kenyon's article "Will lifestyle name put wind in anchorless centers' sail?" was included in a text box within Professor Thrall’s 2002 Oxford book. According to that short article, the average amount spent per visit at lifestyle centers is _____, compared with ______ at malls. (chapter 7)
a. $70; $107
b. $107; $70
c. $150; $50
d. $50; $150

135. A hospitality “business geographer / real estate market analyst” report should NOT include _______________. (chapter 8)
a. net operating income projection
b. estimated hotel room absorption
c. market segmentation
d. statement of the goals and objectives of the client
e. all of these should be included

136. According to the Urban Land Institute (Schwanke 1987) and quoted in Thrall (2002), to be defined as an MXD (mixed use development), the real estate project must have ________________. (chapter 9)
A) Three or more significant revenue-producing uses
B) Significant physical and functional integration of project components
C) Development in conformance with a coherent plan
D) All of above

137. An MXD (mixed use development) must achieve a "minimum critical mass" to become imbedded into the public consciousness, and for market penetration to occur from each category of use. Nevertheless, smaller-scale MXDs have become more common in recent years, but still usually exceeding ______ square feet. (chapter 9)
a. 10,000
b. 100,000
c. 1,000,000
d. 10,000,000

138. “____________” is a phrase often used in the hospitality industry to indicate developments whose amenities attract clients. (chapter 8)
a. flop house
b. market niche
c. intervening opportunity
d. supply induced demand

139. If business travelers had to travel through an airport, the airport becomes _____________. (chapter 8)
a. an intervening opportunity
b. a market niche
c. a burger stand
d. an externality

140. The __________ is the value platform that the hospitality industry uses to target the niche of the market they desire? (chapter 8)
a. product that the guest receives
b. design and accommodations of the room
c. services and public facilities
d. situation of the facility within the surrounding environment
e. all of these answers

141. The client, whether he or she be an investor, financier, or developer, should know all of the following except ___________. (chapter 10)
a. which questions to ask of the analyst.
b. which GIS software to use.
c. how to be a judge of the analyst's work.
d. how to translate the report into judgment.
e. how to correctly understand the evaluation and report.

142. Say a client has chosen to employ the services of a business geographer real estate market analyst. Where can he or she can find a qualified analyst? (chapter 10)
a. By recommendations from the key faculty of geography and real estate departments.
b. Ask other companies who they have used.
c. Contact members of the board of directors of trade and professional organizations.
d. Ask those who are known and trusted for referrals.
e. All of these approaches should be used

143. Business geographers are employed to provide a variety of services, which include ____________. (chapter 10)
a. choosing the appropriate data
b. choosing what software and methods to use
c. using their professional skills of execution and their ability to complete and present the report in a manner that will improve their judgment.
d. advising on personnel that the company might employ to assist in analysis
e. all of these answers

 144. In the 1960's, geography professor Dr. __________ published the research in social area analysis, which was to form the basis of what today in the business geography industry is referred to as Lifestyle Segmentation Profiles (LSPs). (Chapter 7)
a) Berry
b) Applebaum
c) Perry
d) Smith
e) none of these answers

145. Given an address, what can a GIS based LSP product calculate? (chapter 7)
a. latitude
b. longitude
c. LSP index
d. all of these answers
e. none of these answers

146. ___________ NOT a widely and often freely distributed public resource available to the business geographer engaged in hospitality market analysis? (chapter 10)
a. The telephone book commercial listings known as “yellow pages” is
b. Hotel and motel guides distributed by Chambers of Commerce and other local economic development promotion groups are
c. American Automobile Association AAA guides are
d. Commercial data vendors are
e. none of these answers

147. Components for the evaluation of the Business Geographer include ___________. (chapter 10)
a. expertise/experience
b. educational credentials
c. professional credentials/accolades
d. independent assessment of the person's qualifications
e. all of the above

148. At the start of the 21st century, geographic technology is estimated to be a ___________ dollar per year industry. (chapter 10)
a. 10 million
b. 40 million
c. 10 billion
d. 40 billion

149. The analyst must make choices as to which GIS software to use and can stay informed about changes in technology by reviewing various periodicals including ___________. (chapter 10)
a. GeoSpatial Solutions
b. GIS software vendor publications, such as those by ESRI and MapInfo
c. Journal of Real Estate Literature
d. All of these answers

150. In the 1930's, former geography professor, William ______________ did his pioneering research. While he frequently published his research and methods in professor trade publications, it was not until the 1960s that he published much of his work in academic journals. (chapter 7)
a) Applebaum
b) Berry
c) Perry
d) none of these answers

151. A high-end geocoding software product, such as Coder/Plus from ESRI (formerly CACI Coder/Plus), will use an address to calculate ___________. (chapter 7)
a. only LSP
b. ZIP code
c. latitude and longitude
d. latitude, longitude and LSP
e. none of these answers

152. _____________ includes the original list of public and private data vendors and their data products, and updates that list in most every issue of the publication. The original list was intended for the appendix of Business Geography and New Real Estate Market Analysis, but that would have made the book too long and would have become out of date too quickly. (chapter 10)
a) the yellow pages
b) Business Geographics
c) GeoSpatial Solutions
d) Journal of Real Estate Literature
e) none of these answers

153. According to the Urban Land Institute (Schwanke 1987), as quoted in Thrall (2002), the real estate land uses within an MXD (mixed use development) must be integrated together allowing for ___________ (chapter 9)
a. good automobile parking so that visitors may easily drive from land use to land use
b. easy pedestrian access between each type of land use
c. spatially organized land uses
d. none of these answers

154. A traffic generator is a facility that ____________. (chapter 7)
a) is a nuisance to retail business because it is a primary source of congestion
b) creates a surplus of cars on the road
c) draws people to a well defined location
d) none of these answers

155) The trade area for a facility in the hospitality industry is dependent upon ___________ (chapter 8)
a) all of these answers
b) market segmentation
c) value platform
d) the targeted niche

-------------------