Suppose Prices for New Homes Have Risen and Sales of New

question 145

Multiple Choice

Suppose prices for new homes have risen and sales of new homes have also risen. We can conclude that

• A) the demand for new homes has risen.
• B) the law of demand has been violated.
• C) new firms have entered the construction industry.
• D) construction firms must be facing higher costs.

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Definitions:

Volcanic Necks

The solidified remains of magma within a volcanic vent, often exposed after the surrounding rock has eroded away.

Viscous Lava

Lava that has a high silica content, making it thick and slow-moving.

Volcanic Vents

Openings in the Earth's crust from which molten rock, gases, and ash are ejected or emitted.

Volcanic Domes

Rounded, bulbous formations of viscous lava that are created by slow eruptions and accumulate around a volcano's vent.