This topic contains a solution. Click here to go to the answer

Author Question: Suppose the price of lumber decreases. In the market for new homes, we would expect which of the ... (Read 113 times)

crazycityslicker

  • Hero Member
  • *****
  • Posts: 537
Suppose the price of lumber decreases. In the market for new homes, we would expect which of the following to occur?
 
  A) the market clearing price will fall and the equilibrium quantity will rise.
  B) the market clearing price will rise and the equilibrium quantity will fall.
  C) both the market clearing price and the equilibrium quantity will fall.
  D) both the market clearing price and the equilibrium quantity will rise.

Question 2

How should per capita real Gross Domestic Product (GDP) be used?
 
  A) It is an accurate measure of economic well-being.
  B) It is a reasonably good measure of productive activity.
  C) Per capita real Gross Domestic Product (GDP) is a good gauge of a nation's quality of life because it takes into account a nation's cultural and spiritual values.
  D) All of the above.



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

lorealeza77

  • Sr. Member
  • ****
  • Posts: 356
Answer to Question 1

A

Answer to Question 2

B




crazycityslicker

  • Member
  • Posts: 537
Reply 2 on: Jun 29, 2018
YES! Correct, THANKS for helping me on my review


alexanderhamilton

  • Member
  • Posts: 334
Reply 3 on: Yesterday
Excellent

 

Did you know?

All patients with hyperparathyroidism will develop osteoporosis. The parathyroid glands maintain blood calcium within the normal range. All patients with this disease will continue to lose calcium from their bones every day, and there is no way to prevent the development of osteoporosis as a result.

Did you know?

Symptoms of kidney problems include a loss of appetite, back pain (which may be sudden and intense), chills, abdominal pain, fluid retention, nausea, the urge to urinate, vomiting, and fever.

Did you know?

According to research, pregnant women tend to eat more if carrying a baby boy. Male fetuses may secrete a chemical that stimulates their mothers to step up her energy intake.

Did you know?

Common abbreviations that cause medication errors include U (unit), mg (milligram), QD (every day), SC (subcutaneous), TIW (three times per week), D/C (discharge or discontinue), HS (at bedtime or "hours of sleep"), cc (cubic centimeters), and AU (each ear).

Did you know?

There are more sensory neurons in the tongue than in any other part of the body.

For a complete list of videos, visit our video library