A Recent Decline in Interest Rates Made Home Construction More

question 118

Multiple Choice

A recent decline in interest rates made home construction more affordable for many families.The consequent increase in construction produced a rightward shift in the demand curves for construction materials.Economists would say that the change in demand for materials is due to

• A)the principle of marginal productivity.
• B)rent seeking.
• C)diminishing marginal returns.
• D)derived demand.

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Definitions:

Foster Families

Temporary homes provided by individuals or families for children whose biological parents are unable to care for them.

Foster Care

A setup where a young person is placed into a guardianship situation, like a ward or group home, or into the private residence of a caregiver certified by the state, known as a "foster parent".

Legal Custody

The legal authority granted to a parent or guardian to make significant decisions regarding a child's welfare, including education, medical care, and religious upbringing.

Physical Custody

A legal term referring to with whom a child lives and who is responsible for the daily care and decision-making for the child.