Among the most important demand side factors explaining homes prices would be the
A. average wage paid to carpenters.
B. cost of lumber.
C. number of homebuilders.
D. income of potential homebuyers.
Answer: D
Economics
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A. Labor market. B. Public goods market. C. Factor market. D. Product market.
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Relative scarcities are indicated by
A) supply and demand being out of equilibrium. B) surpluses. C) excess demand and excess supply. D) relative prices.
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Why do economists sometimes treat decision makers as boundedly rational?
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The behavior of market prices over time indicates that natural resources are
a. a limit to economic growth. b. unrelated to economic growth. c. not a limit to economic growth. d. the major determinant of productivity.
Economics