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) rising wages in the construction industry
C) the rapid inflation of the early 2000s D) increases in the price of lumber
A
Economics
You might also like to view...
Which of the following would be a deadweight loss from a tariff?
A) The shift of consumer surplus to government B) The increase in producer surplus C) The decrease in consumer surplus D) The decrease in consumer surplus due to a drop in consumption E) All of the above.
Economics
Ceteris paribus, if the market demand for a product decreases, then equilibrium quantity will (be) ____ and equilibrium price will (be) ____
a. increase; increase b. indeterminate; decrease c. indeterminate; increase d. decrease; decrease
Economics