Author Question: How will an increase in lumber prices influence the home construction market? a. The demand for ... (Read 66 times)

jman1234

  • Hero Member
  • *****
  • Posts: 560
How will an increase in lumber prices influence the home construction market?
 a. The demand for newly constructed homes will increase.
  b. The demand for newly constructed homes will decrease.
  c. The supply of newly constructed homes will increase.
  d. The supply of newly constructed homes will decrease.

Question 2

When economists say the supply of a product has decreased, they mean that:
 a. the supply curve has shifted to the left.
  b. the product price has decreased, and as a consequence, suppliers are producing less of the product.
  c. producers are now willing to sell more of this product at each possible price.
  d. the supply curve has shifted to the right.



Pamela.irrgang@yahoo.com

  • Sr. Member
  • ****
  • Posts: 323
Answer to Question 1

d

Answer to Question 2

a



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
 

Did you know?

Oliver Wendell Holmes is credited with introducing the words "anesthesia" and "anesthetic" into the English language in 1846.

Did you know?

Asthma attacks and symptoms usually get started by specific triggers (such as viruses, allergies, gases, and air particles). You should talk to your doctor about these triggers and find ways to avoid or get rid of them.

Did you know?

Street names for barbiturates include reds, red devils, yellow jackets, blue heavens, Christmas trees, and rainbows. They are commonly referred to as downers.

Did you know?

When taking monoamine oxidase inhibitors, people should avoid a variety of foods, which include alcoholic beverages, bean curd, broad (fava) bean pods, cheese, fish, ginseng, protein extracts, meat, sauerkraut, shrimp paste, soups, and yeast.

Did you know?

Sildenafil (Viagra®) has two actions that may be of consequence in patients with heart disease. It can lower the blood pressure, and it can interact with nitrates. It should never be used in patients who are taking nitrates.

For a complete list of videos, visit our video library