Suppose That the Equilibrium Price and Quantity of New Houses

question 116

Multiple Choice

Suppose that the equilibrium price and quantity of new houses both increase.Which of the following could be a cause of this change?

• A) The wage paid carpenters who build new houses might have risen.
• B) A technological advance in framing a new house might have occurred.
• C) The rent for nearby apartments might have fallen.
• D) More home buyers might have moved into the area.
• E) The cost of wood framing used to build houses might have fallen.

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Definitions:

Grease

A thick lubricant used to reduce friction and wear between mechanical components.

Brake Shoe Edge Codes

Markings found on the edge of brake shoes indicating manufacturer, specifications, and other pertinent information for identification and matching purposes.

Coefficient of Friction

A dimensionless number representing the ratio of the force of friction between two bodies and the force pressing them together.

Friction Facing

A material attached to surfaces, such as clutches or brake pads, that enhances friction between moving parts, thereby improving grip and reducing slippage.