A Recession Causes a Decrease in the Demand for Housing

question 12

Multiple Choice

A recession causes a decrease in the demand for housing, resulting in substantial layoffs in the construction industry. The people laid off are considered

• A) seasonally unemployment.
• B) cyclically unemployment.
• C) structurally unemployment.
• D) frictionally unemployment.

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Definitions:

Accounts Receivable

Money owed to a business by its customers for goods or services sold on credit, typically collected within a short time period.

Individual Asset

A single item of property, whether tangible or intangible, that is owned and has value to the entity holding it.

Liability Decreases

A reduction in the amounts owed by an entity to external parties or creditors.

Debit Balance

An account balance where the total debits exceed the total credits, often indicating the amount that a company or individual owes.