22. Which of the following would most likely increase the price of a new house?

Question

22. Which of the following would most likely increase the price of a new house? higher wages for carpenters, higher wood prices, increases in consumer incomes, highe a. apartment rents, increases i in the future lower wages for carpe apartment rents, increases i in the future lower wages for carpenters, lower wood prices, decreases in consumer incomes, lower apartment rents, decreases in population, and consumer expectations of lower house prices n population, and consumer expectations of higher house prices b. nters, lower wood prices, increases in consumer incomes, higher n population, and consumer expectations of higher house prices c. in the future d. lower wages for carpenters, higher wood prices, decreases in consumer incomes, higher apartment rents, decreases in population, and consumer expectations of higher house prices in the future Scenario 12-2 Marko has two jobs, one for the winter and one for the summer. In the winter, he works as a lift attendant at a ski resort where he earns $10 per hour. During the summer, Marko drives a tour bus around the ski resort. earning $12 per hour. 23. Refer to Scenario 12-2. When Marko switches from his summer job to his winter job, what happens? a. He will divide his time equally between work and leisure b. His work schedule will remain unchanged. c. He will work more hours because the opportunity coo d He will work fewer hours because the opportunity cost of tes ard, in a parailet Fwsh n ihe price of one ot

Explanation / Answer

22.

Option a is the correct answer to an increase in the housing prices.

This is because of a higher wages for carpenters, higher wood prices, increase in the incomes, higher rents, increase in the population and consumer expectations of higher house prices in the future.

If the input which is used becomes expensive, so the total cost will increase and it leads to higher prices of the house.

If the consumer income increase and population increase would lead to an increase in the demand for the house, sp the prices of the house increases.

If the apartment rent increases it leads to an increase in the price of the house.

If the expectation about the price of house increases, it would lead to an increase in the price of the house.

Hence option a is the correct answer.

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