If the Demand for Housing Increases and the Supply of Housing

question 152

Multiple Choice

If the demand for housing increases and the supply of housing decreases:

• A) price will go up and quantity will go down.
• B) price and quantity will both go up.
• C) price will increase, but the quantity change is indeterminate.
• D) the quantity will be higher, but the change in price is indeterminate.

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Definitions:

Retroactive Interference

A phenomenon where newly acquired information interferes with the retrieval of older information.

Proactive Interference

A phenomenon where older memories interfere with the recall of newer memories, often affecting the learning process.

Cue-dependent Forgetting

A phenomenon where information is not remembered unless the context present at encoding is also present at recall.

Decay

The gradual decline in the ability to retrieve and maintain information over time, often used to describe the fading of memory.