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Question: Housing supply is very inelastic. Even though prices for homes have gone up considerably, supply is not expected to catch up for years. Which of the following explains why supply is so inelastic? (NOTE: I am not asking why there is a housing shortage, I am asking why the supply of housing is so inelastic.)
Due to the 2008 subprime mortgage crisis, there are not enough skilled craftspeople who know how to build houses. Moreover, it takes many years for someone to train to become a skilled craftsperson.
The price of lumber has increased.
Demographic shifts caused an increase in demand for houses.
Calculate which are the major components of Canadian GDP expenditure and income based from 2013 to 2017 (by year). In order to do that.
Describe an instance where defining the problem presented a challenge, and how you resolved the issue. How will you make certain that you properly defined the problem for your prospectus? Where do you need help?
A group of people is offered two scenarios and asked which they would prefer: (A) a 3 percent wage decrease in a world with no inflation.
Illustrate and explain using a diagram, the impact of external costs and external benefits on resource allocation - Why are public goods not produced in sufficient quantities by private markets?
To slowdown the economy and prevent overheating (inflationary pressure buildup), fiscal and/or monetary policies can be employed. Using Aggregate Demand.
The budget line gives the combinations of two goods that the consumer can purchase with a given budget. List and briefly describe the two conditions that satisfy utility maximization when selecting a combination of two goods.
Normal 0 false false false EN-US X-NONE X-NONE You spend $1000 dollars and..
How are the laws of supply and demand illustrated in graph and what is the equilibrium price and quantity in this market?
One reason for the decreased economic volatility starting in the 1980s was
take a small company to be established and construct a cost revenue analysis to see how feasible the project could be?
The demand for labor is said to be a "derived" demand. What is the meaning of a derived demand? How does this concept help to determine the demand for labor?
What is the marginal cost associated with two units of production and the law of diminishing marginal productivity
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