Lumber Prices Fall in Calgary, Alberta, Because New Forests Are

question 153

Multiple Choice

Lumber prices fall in Calgary, Alberta, because new forests are opened for harvesting in nearby British Columbia. As a result, what might you expect to find in the Calgary housing industry?

• A) Less labour will be used to construct homes as wages fall relative to the price of lumber.
• B) Less wood will be used in the construction of new homes because the price is now cheaper.
• C) Steel frames for houses are replacing wood frames because wood is considered a cheap substitute.
• D) More wood is being used in the construction of new homes.

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