A Local University Decides to Double Its Enrollment Over the Nextfive

question 8

Multiple Choice

A local university decides to double its enrollment over the nextfive years in order to increase tuition revenue. Which of thefollowing would most likely occur in the market for rentalhousing in the surrounding community?

• A)a decrease in the price of rental housing
• B)an increase in the demand for rental housing (True Answer )Correct
• C)a decrease in the supply of rental housing
• D)a population change leads to a change in quantity demanded, not demand

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Definitions:

Steady State Theory

The cosmic hypothesis suggesting that the universe has always existed and maintains a constant average density, despite its expansion, through the continuous creation of new matter.

Fluid Intelligence

The aspect of intelligence involving the ability to reason quickly, think abstractly, and solve problems in novel situations, typically seen as independent of acquired knowledge.

Crystallized Intelligence

The ability to use knowledge that has been acquired through experience.

Metacognition

The ability to think about and understand one’s own cognitive processes and their effects.