Suppose There Is a Tornado That Levels a City

question 128

Multiple Choice

Suppose there is a tornado that levels a city.As rebuilding begins,how might you analyze this effect in the market for lumber?

• A) The demand for lumber would increase, increasing both the equilibrium price and quantity.
• B) The supply of lumber would increase, decreasing the equilibrium price and increasing the equilibrium quantity.
• C) The demand for lumber would increase, decreasing the equilibrium price and increasing the equilibrium quantity.
• D) The supply of lumber would decrease, increasing the equilibrium price and decreasing the equilibrium quantity.

---

Definitions:

Task-Analysis Inventory

A systematic collection and examination of data related to the tasks performed in a specific job, aiming to understand the skills and actions required.

Training Needs

The gap between current capabilities of employees and the skills required to perform their job effectively, guiding the development of training programs.

Detailed

Describes information or work that is done with thoroughness and precision.

Job Families

Groups of occupations within an organization based upon work performed, skills, education, training, and credentials.