Assume That the Number of People Wanting to Buy Houses

question 90

Multiple Choice

Assume that the number of people wanting to buy houses in your locality increases sharply.This will cause the price of houses to increase,which is an example of _____.

• A)demand-pull inflation
• B)cost-push inflation
• C)supply-side deflation
• D)credit deflation

Understand how the size of government affects economic growth through taxation and spending.

Analyze the changes in the size and function of government in the U.S. over the past century.

Understand the concept of opportunity cost and its implications in resource allocation and decision-making.

Distinguish between positive and normative economics and recognize examples of each.

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Definitions:

Following

In the context of a sequence or process, it refers to something that comes after or as a result of another thing.

Reaction Mechanism

The step-by-step sequence of elementary reactions by which overall chemical change occurs, detailing the specific way in which atoms or groups of atoms move and bonds are formed or broken.

Detail

An individual feature, fact, or item that is considered significant and provides information or contributes to an overall understanding of a subject.

Stepwise

Involves processes or reactions occurring in a sequential manner, one step at a time.