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DGRE Topics 1
Fundamentals Review
| Question | Answer |
|---|---|
| THE FAMILY CODE OF THE PHILIPPINES is EXECUTIVE ORDER NO._ and effectivity date is_ | 209 AUGUST 3 1988 |
| In_regime only the profits of the partnership are divided between the spouses in the absolute community it is the entire common mass that is divided between them each spouse losing the ownership of the property brought to the marriagE. | REGIME OF CONJUGAL PARTNERSHIP OF GAINS |
| In the absence of a valid pre-nuptial agreement the governing property relations of a married couple is:_ | ABSOLUTE COMMUNITY REGIME |
| Spouses who were married after the effectivity of the Family Code without any pre-nuptial agreement shall be governed by_ | ABSOLUTE COMMUNITY REGIME |
| Property exclusively owned by the husband is called: A. Chattel B. Paraphernal property C. Accession D. Capital property | D. CAPITAL PROPERTY |
| Conjugal partnership can be dissolved by: A. Legal separation B. Annulment of Marriage C. Judicial Decree of Separation of Property D. Any of the above | D. ANY OF THE ABOVE |
| Spouses have the freedom to choose the regime that will govern their properties by marriage settlement or pre-nuptial agreement such as but not to include: A. Absolute community B. Absolute separation C. Conjugal partnership d Occupation | D. |
| Property exclusively owned by the wife is called: A.Chattel B. Paraphernal property; C. Accession D. Capital property | B. PARAPHERNAL PROPERTY |
| In the absence of a valid pre-nuptial agreement the governing property relations of a married couple is: A. Conjugal partnership B. Absolute community regime C. Complete separation D. Regime of separation of property | E. Complete separation of property |
| Husband n wife can not sell prprty 2 each othr except when a separation of prprty is agreed upon in the "ante-nuptial" contract and ( it should “or” not “and”) _ | Ans : WHEN THERE IS A JUDICIAL SEPARATION OF PROPERTY |
| In the absence of a pre nuptial agreement d ff: r excluded from the community property except: | D.JEWELRY FOR PERSONAL AND EXCLUSIVE USE OF EITHER SPOUSE |
| A regime whereby man and woman Hu lived 2Gether w/o marriage cld equally share 2Gther dr earnings a party hu did nt contribtd in d earning shal b deemed 2 hve contribted jointly via care & maintennce of househld | PROPERTY REGIME OF UNION w/o MARRIAGE |
| Mark&Suzette exctd a marrge settlmnt spcfying dt d regMe f separation f prpty shL govern dr pprty relations during marrge . Thy Wr subsqnTly married n prpr cermnies on Dec 1 1988 Undr d Family Code wt system Shl govRn dr prprTy relatns during dr marrge? | SEPARATION OF PROPERTY |
| In_ regime the husband and the wife are joint owners of all the properties of the marriagE. The properties which each spouse brings into the marriage and those which they acquire during the marriage all form a common mass. | REGIME OF ABSOLUTE COMMUNITY -dissolution of the marriage of the community is divided between the spouses or their respective heirs equally irrespective of the value each one may have originally owneD. |
| In the conjugal partnership of gains what kind of property does the spouses have conjugal partnership on? | GAINS REALIZED BY THE JOINT OR MERGED PROPERTY AND EFFORTS OF SPOUSES Wrong : Property inherited during the marriage /Winnings from a game of chance /Income realized by spouses during the marriage Property owned by spouses exclusively |
| Mr. V. inherited a piece of land when he was still singlE. Then he got married on Oct 1 2000 w/o a marriage settlement. What is the nature of the property now that he is married? | Ans: COMMUNITY PROPERTY |
| Wrong : Exclusive property /Community Property/Conjugal property/Separate property | |
| Husband and Wife can't sell property to each other when : | Ans : SPOUSES HAVE BEEN SEPARATED FOR MORE THAN 10 yrs |
| Can sell when :A separation of property was agreed upon in the prenuptial agreement /There has been a judicial separation of property/There has been a legal separation | |
| _is an act of gratuitously transferring property or rights motivated by the liberality of the giver in favor of the receiver who accepts it. | DONATION |
| _takes effect upon the death of the donor | DONATION MORTIS CAUSA It is governed by the formalities of testamentary disposition which shall be observed based on the law of succession and subject to estate tax |
| _is a gratuitous transfer of rights and property that shall take effect during the lifetime of the donor | DONATION INTER VIVOS |
| _is defined as the mode of acquisition by virtue of which the property rights and obligations to the extent of the value of the inheritance of a person are transmitted through his death to another or others either by will or by operation of law | SUCCESSION |
| _the person who died and whose property is transmitted through succession. not he left a will | DECEDENT -It is the general term applied to the person whose property is transmitted through succession |
| the decedent whose properties are to be transferred to his successor through a written will | TESTATOR |
| A transfer of property from a decedent without a will is called | INTESTATE |
| _ a special proceeding to establish the validity of a will | PROBATE -is mandatory which means that no will passes either real or personal property unless it is proved and allowed in a proper court. * read more on notes |
| _ refers to the properties or property rights of the decedent which is the subject matter of succession | ESTATE OR INHERITANCE |
| _ the heir or person to whom the property or property rights is to be transferred | SUCCESOR |
| _ the person named in the will by the testator to carry out its contents | EXECUTOR |
| _the person appointed by the court to administer and distribute the estate of the decedent if there is no will or if the executor named in the will of if the person named in the will does not act or execute its contents | ADMINISTRATOR |
| _results from the designation of an heir made in a will and executed in the form prescribed by law | TESTAMENTARY SUCCESSION |
| A person who died leaving a will is said to have died _ | TESTATE |
| _ an act whereby a person is permitted with the formalities prescribed by law to control to a certain degree the disposition of his estate upon his death | WILL |
| _ is a supplement or an addition to a will made after the execution of a will and annexed to the will and to be taken as part thereof by any disposition made in the original will is explained added to or altered | CODICIL |
| _ one entirely written dated and signed by the testator himself and is subject to no formalities | HOLOGRAPHIC WILL |
| _ a will other than a holographic will that conform to all the requirements of law | NOTARIAL WILL |
| _the portion of the testator’s property which could not be disposed of freely because the law has reserved it for the compulsory heirs | LEGITIME |
| _ the part of the estate which the testator could dispose of freely in the will | FREE PORTION |
| _ an act by which an owner of an estate deprives a person who would otherwise be his heir or the right to inherit it. | DISINHERITANCE |
| _is a legal succession because it takes effect through the operation of law because there is no decedent’s last will and testatement to dispose the estate | INTESTATE SUCCESSION |
| A person who died without leaving a will is said to have died _ | INTESTATE |
| Donation Inter Vivos is subject to what tax? _ | DONOR’S TAX |
| Donation mortis causa is subject to what tax? _ | ESTATE TAX |
| No foreigner may be admitted to take the board exam nor be given certificate to operate in the Philippines unless there is | FOREIGN RECIPROCITY |
| In order that a candidate may be deemed to have passed the examination he/ she must have obtained 75% in all subjects with no rating below_in any subject | 50%. |
| Attendance in Real Estate Seminar and Review with certification as provided by an accredited _ by PRC is prerequisite in taking the Real Estate Broker’s Exam | SERVICE PROVIDER |
| The professional identification card from PRC shall be renewed every _ | 3 yrs |
| Real Estate salesperson is a duly accredited natural person by PRC who performs Real Estate service in behalf of a _ | REAL ESTATE BROKER |
| _is the only accredited and integrated professional organization by PRC | AIPO |
| Cash surety bond of real estate broker of P 20000 is renewable every _ | 3 yrs |
| Cash surety bond of real estate broker is _ | P20000 |
| Under Sec 32 on corporate practice of the real estate service developer shall regularly submit to the commission and to SEC a list of _ | REAL ESTATE SERVICE PRACTITIONER’S |
| Under corporate practice of the real estate service developer’s marketing group must be headed by a _ | FULL-TIME REGISTERED AND LICENSED REAL ESTATE BROKER. |
| Per sec 30 of IRR RESA all positions in government requiring the services of registered and license real estate service practitioners w/in _ yrs from effectivity shall be filled only by registered and licensed real estate service practitioners | 3 YRS |
| Per Sec 31 of IRR RESA for real estate salesperson shall be accredited by the Board with at least 2 yrs of college with at least _units in real estate brokerage/ CEP no examination shall be given | 12 UNITS CEP |
| Per Sec 31 of IRR RESA Board may accredit real estate salesperson until July 30 2011 if they are registered with DTI and in the active practice for at least 3 yrs as may be certified by a licenses broker or real estate developer prior to effectivity of R | 120 CEP UNITS |
| No real estate salesperson either directly or indirectly can negotiate mediate or transact any real estate transaction for and in behalf of a real estate broker without first securing an _as real estate salesperson for the real estate broker as prescribed | AUTHORIZED ACCREDITATION |
| A real estate broker shall be guilty of violating RA 9646 or the IRR for utilizing the services of a real estate salesperson who has not secured the required _ from the Board | ACCREDITATION |
| No violation of this provision per sec 31 shall be caused for revocation of broker’s license unless there was _ of such violation or the broker retains the benefits profits or proceeds of a transaction wrongfully negotiated by the salesperson | ACTUAL KNOWLEDGE |
| No partnership or corporation shall engage in the business of real estate service unless it is duly registered with the SEC and persons authorized to act for the partnership or corporation are all _ real estate brokers appraisers or consultants as the cas | |
| REGISTERED AND LICENSED | |
| Under sec 32 the partnership or corporation shall regularly submit a list of its real estate service practitioners to the Commission and SEC as part of its _ reportorial requirements | ANNUAL |
| There shall be at least 1 licensed real estate broker for every _accredited salespersons per Sec 32 | 20 |
| Divisions or departments of partnership and corporation engaged in marketing or selling any real estate development project in the regular course of business must be headed by _ registered and licensed real estate broker in accordance with Sec 32. | FULL-TIME |
| Branch office shall be manned by_ real estate brokers appraisers consultants as the case may be | DULY LICENSED In case of termination or resignation from office of a real estate practitioner the same shall be reported by employer to the Board w/in a period not to exceed _days from date of effectivity |
| Subject to the provisions of the Labor Code a corporation or partnership may hire the services of registered and licensed real estate brokers appraisers consultants on commission basis to perform real estate services and the latter shall be deemed _ cont | INDEPENDENT |
| _of the official seal of the PRBRES signifies the vital role of the real estate service practitioners in the social political economical development and progress of the Philippines | RISING SUN |
| The _of the official seal of the PRBRES signifies ethical standards and prosperity | GOLD |
| An act regulating the practice of Real Estate Service in the Philippines or w/in the Philippine jurisdiction | REAL ESTATE SERVICE ACT/ RA 9646/RESA LAW |
| Refers to the Professional Regulatory Board of Real Estate Service | THE BOARD |
| Real Estate Service Practitioners shall refer to _ | REAL ESTATE SALESPERSON BROKER APPRAISER CONSULTANT |
| _refers to a person who conducts valuation and possesses the necessary qualifications license ability and experience | APPRAISER |
| refers to an official in the local government unit who performs appraisal and assessment of real properties including plants equipment and machineries essentially for taxation purpose | ASSESSOR |
| refers to and consist of real estate consultants real estate appraiser real estate assessor real estate broker real estate sales person | REAL ESTATE PRACTITIONER |
| refers to a duly registered and licensed natural person who for a professional fee act as an agent for real estate transaction | REAL ESTATE BROKER |
| refers to a duly accredited natural person who performs service for and in behalf of a real estate broker registered and licensed by PRC | REAL ESTATE SALES PERSON |
| The natural and integrated professional organization of natural persons duly registered and licensed as real estate service practitioners. To be recognize by the Board as the only accredited organization of real estate practitioners. It is mandatory to j | AIPO / ACCREDITED AND INTEGRATED PROFESSIONAL ORGANIZATION The board shall adopt and promulgate the Code of Ethics & Responsibilities for real estate practitioners which shall be prescribed by the |
| The Real Estate Practitioner who fail to comply with the necessary CPE requirements w/in _yrs after effectivity of RA 9646 on or before July 30 2011 shall be required to take the Board Exam | 2 yrs - JULY 30 2011 |
| The amount and duration of the Professional Indemnity Insurance of Real Estate Broker is _P20000 | EVERY 3 yrs |
| Per sec 39 any violation of RA 9646 including violations of the IRR by a licensed/ accredited person shall be meted the penalty of fine of not less than _ and/or 2 yrs imprisonment | P100000 |
| Per sec 39 any violation of RA 9646 including violations of the IRR by an unlicensed/not accredited person shall be meted the penalty of fine of not less than P 200 | 000 and/or _ yrs imprisonment |
| The Board shall be assisted by the Commission in carrying out the provisions of RA 9646 & IRR.The lawyers of the Commission shall act as _ against Illegal practitioners and other violators | PROSECUTOR |
| RA 9646 or RESA law has _sections | 45 |
| The Chairman of the Board of Real Estate service is Eduardo G. Ong while the chairperson of PRC is _ | TERESITA R. MANZALA |
| IRR of RA No. 9646 refers to several words except: A. Implementing Requirements & Rules of RA 9646 B. Implementing Rules & Regulations of RA 9646 C. regulations D. IRR - Real Estate Service Act of the Philippines | A. IMPLEMENTING REQUIREMENTS & RULES OF RA 9646 |
| Not included in the composition of the official seal of the Professional Regulatory Board of Real Estate Service ( PRBRES ): A. Land structures trees & fruits green lines rising sun B. Red white blue yellow gold C. Blue green sun & rays map of the | |
| D. Building blue green violet | D. BUILDING BLUE GREEN VIOLET |
| _ is the act of authorizing the change of the current use of a piece of land into some other use | CONVERSION |
| _ refers to the act of allocating lands to different activities or class of land uses | evolved and enacted through the town planning and zoning process. |
| _ is a mortgage financing program of the National Home Mortgage Finance Corporation which assists legally organized associations of underprivileged and homeless citizens to purchase and develop a tract of land under the concept of community ownership | THE COMMUNITY MORTGAGE PROGRAM (CMP) |
| _ the act of specifying how agricultural lands shall be utilized for non-agricultural uses such as residential | industrial or commercial |
| _usually presented in a land use map | indicates the socially desired mix of land uses and a set of policies to guide future development |
| Agricultural lands with a slope of _ percent are exempt from the coverage of the Agrarian Reform Law | 18% |
| _has the exclusive authority to approve or disapprove applications for conversions of agricultural lands for residential commercial industrial and other land uses | DAR |
| For landowner | retention limit is maximum of _hectares and for each children of the landowner _hectares provided the child is at least _yrs of age and actually_the farm |
| The acquisition of land in advance of actual need based on present value for future planned development is referred to under the Urban Land Reform law as | LAND ASSEMBLY |
| Change from one (1) classification or use of land property to another is called _ | CONVERSION |
| _is that cash or payment in kind given by landowner or developer to tenants farm workers or bonafide occupants to be affected by the DAR conversion | DISTURBANCE COMPENSATION |
| As provided by R.A. 7279 a developer of a subdivision is required to develop equivalent of _ percent of the project for _ | TWENTY (20%) SOCIALIZED HOUSING |
| The priority right of a tenant to buy the land located in an urban land reform area is known as _ | TENANT'S RIGHT OF FIRST REFUSAL |
| Conversion permit of agricultural land of not more than 5 hectares shall be approved by the _ | REGIONAL AGRARIAN REFORM OFFICE |
| Urbanizable areas refer to sites and lands which considering present characteristics and prevailing condition display marked and great potential of becoming urban areas w/in the period of _ YRS | (5) |
| Registration of sale of a five (5) hectare agricultural land must be accompanied by _ | DAR CLEARANCE |
| _ refers to land located in the fringes of built-up communities which has the provincial characteristics but is flavored with metropolitan utilities facilities and amenities | URBANIZABLE LAND |
| PAR C is _ | PRESIDENTIAL AGRARIAN REFORM COUNCIL |
| PARCCOM is _ | PROVINCIAL AGRARIAN REFORM COORDINATING COMMITTEE |
| B ARC is _ | BARANGAY AGRARIAN REFORM COMMITTEE |
| Landowners other than banks and other financial institutions who voluntarily offer their lands for sale shall be entitled to an additional _ percent cash payment | 5 % |
| Agrarian reform law of October 21 1972 refers to _ | PD 27 |
| In case of sale of agricultural lands not exceeding five (5) hectares | aside from clearance from DAR buyer must also submit what document? A. Undertaking to surrender land in excess of retention limits B. Affidavit of compliance with CARL C. Affidavit of total or aggregate landholding D. Certification from DAR E. Affidavit o |
| As provided for by the Agrarian Reform Law lands awarded to a tenant beneficiary cannot be the subject of a conversion permit within: A.w/in 1 year from grant of emancipation patent B. w/in 2 yrs from grant of emancipation patent C. w/in 5 yrs from gra | C. w/in 5 yrs FROM GRANT OF EMANCIPATION PATENT |
| The right of pre-emption or right of 1st refusal under PD 1517 (Urban Land Reform) is exercisable by a legitimate tenant in urban land if he has occupied the land for _ A. 6 yrs B. over 30 yrs C. not less than 1 yr D. at least 10 yrs E. 5 yrs continuous p | D. AT LEAST 10 yrs |
| The following are modes of acquiring lands for the purposes of the Urban Development and Housing Act of 1992 except A. Joint venture agreement B. Negotiated purchases C. Community mortgage D. Accretion E. Expropriation | D. ACCRETION |
| The following are priorities of lands that may be acquired for socialized housing purposes | under RA No. 7279 except: A. lands owned by the government B. privately owned lands C. registered but idle lands D. alienable lands of public domain E. BLISS not yet acquired |
| Registration of sale of a five 5 hectare agricultural land must be accompanied by: A. DAR Conversion Permit B. HLURB License to Sell C. DAR Clearance D. LGU Development Permit E. All of the above | C. DAR CLEARANCE |
| Has ruled that all agricultural lands that are already classified as commercial | industrial or residential before June 15 1988 no longer need any conversion clearance even if it is still devoted to agricultural activity |
| A. Republic Act 6657 B. Republic Act 7279 C. Ministry Order No. 39 Series of 1985 D. DOJ Opinion No. 44 Series of 1990 E. None of the above | D. DOJ OPINION NO. 44 SERIES OF 1990 |
| As provided for by the Agrarian Reform Law | lands awarded to a tenant beneficiary cannot be the subject of a conversion permit within: A. w/in one (1) year from grant of emancipation patent B. w/in two (2) yrs from grant of emancipation patent C. w/in five (5) |
| yrs from grant of emancipation patent D. None of the above | C. w/in FIVE (5) yrs FROM GRANT OF EMANCIPATION PATENT |
| The 2 criteria for CARP coverage is suitability of the land for agriculture and A. Its need for carp purpose B. Its size and location C. its possibility of acquisition D. abusive landowners | C. ITS POSSIBILITY OF ACQUISITION |
| Effects where a beneficiary of the socialized housing program unlawfully sell transfer or otherwise dispose of his lot or right there on: A. Sale or transfer shall be acceptable B. Beneficiary keeps his right to the land C. Beneficiary maintains his to | D. BENEFICIARY SHALL BE BARRED FROM THE BENEFITS OF SOCIALIZED HOUSING FOR 10 yrs |
| Has ruled that all agricultural lands that are already classified as commercial industrial or residential before June 151988 no longer need any conversion clearance even if it is still devoted to agricultural activity. A. Republic Act 6657 B. Republic Ac | D. DOJ OPINION NO. 44 SERIES OF 1990 |
| Beneficiary of land may not sell transfer convey through hereditary succession said land for a period of: A. 5 yrs B. 7 yrs C. 10 yrs D. 12 yrs | C. 10 yrs |
| Government required approvals for development of agricultural land into subdivision project except: A. DAR – conversion permit DENR-ECC B. LGU-development permit & local clearance LRA /LMB- approval individual lots-technical description C. Registry of De | |
| _Individual title HLURB- license to sell & certificate of registration D. HUDCC- license to develop LMB – topography survey D. HUDCC- LICENSE TO DEVELOP LMB – TOPOGRAPHY SURVEY | C. JOINT VENTURE AGREEMENT OR ANY OTHER BUSINESS |
| ARRANGEMENT BETWEEN THE BENEFICIARY AND THE DEVELOPER. | |
| Refer to those issued by the Bureau of Land ( now DENR) under Public Act Land ( Commonwealth Act. No. 141) on the basis of continuous occupation by the applicant to land classified as alienable or disposable land of the public domain. The last implementin | A. FREE PATENT (SEE RA 6940) |
| Refers to grant of public land to persons seeking to establish and maintain agricultural homes on condition of actual continuous and personal occupancy of the area as a home including cultivation and improvement of the land. A. Free Patent B. Homestead | B. HOMESTEAD PATENT |
| Refers to the release for agricultural purpose the Insular Government Property Sales Application under RA 3038 A. Free Patent B. Homestead Patent C. Sales Patent D. Special Patent | C. SALES PATENT |
| Refers to patents for residential commercial industrial educational charitable and other similar purposes as governed by Chapter IX of the Public Land Act ( Com. Act 141 as amendeD. A. Miscellaneous Sales Patent B. Free Patent C. Sales Patent D. Special | A. MISCELLANEOUS SALES PATENT |
| Refers to Patent issued only by the President of the Philippines for a particular purpose (reclaimed land along Roxas BlvD. and in Cebu untitled patrimonial property in the vast area of Fort Bonifacio) A. Free Patent B. Homestead Patent C. Sales Patent D. | C. SPECIAL PATENT |
| Tenants of urban land where their residence is constructed shall have the priority to buy the land when the following requisites are present except? A. they are legitimate tenants B. they have occupied the land for at least ten (10) yrs C. the land is w | D. THE LANDOWNER IS NOT SELLING THE LAND Under RA 7279 shall be resorted to only when other modes of acquisition have been exhausted A. Negotiated Purchase B. Lend Consolidation C. Expropriation D. Joint- Venture Agreement |
| Under DILG Memorandum Order No. 15-2002 the time frame for processing and action on application for approval of subdivision plan is A. 15 days B. 30 days C. 45 days D. 60 days | B. 30 DAYS |
| Tenants may be awarded 5 hectares of unirrigated land and _if irrigated land. A. 5 hectares B. 6 hectares C. 4 hectares D. 3 hectares | D. 3 HECTARES |
| Law that mandate DAR to approve or disapprove conversion A.EO 129-A B.EO 101-B C.EO 6557 D.EO 1081 | A. EO 129-A |
| Refer to land devoted to or suitable to agriculture as defined in RA 6657 and owned by private natural or juridical persons. A. Farm land B. Cultivated farm land C. Private land D. Irrigated farm land | Answer should be AGRICULTURAL LAND Tenants may be awarded 5 hectares of unirrigated land and _if irrigated land. A. 5 hectares B. 6 hectares C. 4 hectares D. 3 hectares |
| The retention unit of landowner under CARP is A. 5 has. for the landowners and 3 has. Per child irrespective of age B. 5 has for the landowner and 3 has per child who must be at least 15 yrs old C. 5 has for landowner and 5 has per child whether or no | D. 5 HAS FOR THE LANDOWNER AND 3 HAS PER CHILD WHO MUST BE AT LEAST 15 yrs OLD AND ACTUALLY TILLING OR MANAGING THE LAND. |
| Cases where conversion of agricultural land cannot be allowed except: A. Agricultural land w/in restricted areas designated under the national Integrated Protected Areas System ( NIPAS ) including water shed and recharged areas of acquifier irrigated la | D. AGRICULTURAL LANDS WITH DESTROYED IIRIGATION FACILITIES AND SCARCE AVAILABILITY OF WATER |
| Two basic business cycle phases are _ and _ | EXPANSION and CONTRACTION |
| _ is the transition from expansion to contraction in the business cycle | PEAK |
| _ is the changeover from contraction to expansion in the business cycle | Trough |
| A significant decline in activity across the economy lasting longer than a few months is called _RECESSION | |
| The technical indicator of a recession is _ consecutive quarters of negative economic growth as measured by a country's gross domestic product (GDP) | two (2) |
| At its _ the economy is running at full steam. Employment is at or near maximum levels gross domestic product (GDP) output is at its upper limit and income levels are increasing | PEAK |
| At its peak of the economic cycle prices tend to increase due to _ | INFLATION |
| 8. After experiencing a great deal of growth and success income and employment begin to decline. This is called_ | RECESSION |
| _ is also sometimes referred to as a depression depending upon the duration of the trough this is the section of the business cycle when output and employment bottom out and remain in waiting for the next phase of the cycle to begin | TROUGH |
| In a period of _ | the economy is growing once again and moving away from the bottoms experienced at the trough. Employment production and income all undergo a period of growth and the overall economic climate is good |
| _is the rate at which the general level of prices for goods and services is rising and subsequently purchasing power is falling | INFLATION RATE |
| _ is the monetary value of all the finished goods and services produced within a country's borders in a specific time period. It includes all of private and public consumption government outlays investments and exports less imports that occur within a def | GROSS DOMESTIC PRODUCT |
| _is a regulation that sets the minimum fraction of customer deposits and notes that each commercial bank must hold in the form of cash stored physically in a bank vault (vault cash) or deposits made with a central bank | RESERVE REQUIREMENT |
| _refers to money in any form when in actual use or circulation as a medium of exchange especially circulating paper money. This use is synonymous with banknotes or (sometimes) with banknotes plus coins meaning the physical tokens used for money by a gove | CURRENCY |
| A_ exists in the event of large sustained overpricing of some class of assets because of the presence of buyers who purchase an asset based solely on the expectation that they can later resell it at a higher price | SPECULATIVE BUBBLE |
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