As Lumber Becomes More Expensive

question 167

Multiple Choice

As lumber becomes more expensive

• A)the quantity of lumber demanded will increase.
• B)the equilibrium quantity of new houses will decrease.
• C)the supply of new houses will increase.
• D)None of the choices are correct.

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Definitions:

Social Assistance

Government-provided support to individuals and families in need, aiming to ensure a minimum standard of living through financial aid, food stamps, and other services.

Welfare

governmental support aimed at ensuring the basic physical and material well-being of people in need.

Human Behaviour

The array of actions and mannerisms exhibited by humans in conjunction with their environment, influenced by culture, attitudes, emotions, values, ethics, authority, rapport, hypnosis, persuasion, coercion, and genetics.

Genetics

The scientific study of heredity and the variation of inherited characteristics among living organisms.