Recent Forest Fires in the Western States Are Expected to Cause

question 65

Multiple Choice

Recent forest fires in the western states are expected to cause the price of lumber to rise in the next six months.As a result,we can expect the supply of lumber to

• A)fall in six months but not now.
• B)increase in six months when the price goes up.
• C)fall now.
• D)increase now to meet as much demand as possible.

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Definitions:

Actual Novation

The replacement of an existing obligation with a new one, extinguishing the original obligation and creating a new contract with different terms.

Buyout Price

The agreed amount for which an ownership interest in a business can be purchased outright.

Court Order

A formal instruction issued by a court that requires a person or entity to do or not do something.

Mining Partnerships

A specific type of partnership formed usually for the purpose of exploring for, developing, and operating mines and extracting minerals.