Which is a determinant of the demand for housing?
a. The price of lumber
b. Changes in the expected future price of housing
c. The price of housing
d. Wages for electricians
b. Changes in the expected future price of housing
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People come to expect that the price of a gallon of gasoline will rise next week. As a result,
A) today's demand for gasoline and today's supply of gasoline do not change. B) next week's supply of gasoline decreases. C) the price of a gallon of gasoline falls today. D) today's supply of gasoline increases. E) today's demand for gasoline increases.
The most important economic concept to consider when deciding whether to build your own deck or hire it done is
A. law of supply. B. specialization. C. opportunity cost. D. law of increasing cost.
spot exchange is efficient in the absence of
What will be an ideal response?
As the capital-labor ratio increases, break-even investment
A) increases at a decreasing rate. B) increases at an increasing rate. C) increases at a constant rate. D) remains unchanged.