Declines in Spending on Residential Construction Are Often Due to Increases

question 19

Multiple Choice

Declines in spending on residential construction are often due to increases in interest rates.The collapse in residential construction prior to and during the recession of 2007-2009 was due more to ________ than to higher interest rates.

• A)the financial crisis that began in 2007
• B)the rapid inflation of the early 2000s
• C)increases in the price of lumber
• D)rising wages in the construction industry

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