Which of the Following Is Not True About the Housing

question 22

Multiple Choice

Which of the following is not true about the housing market?

• A) The price of housing will increase or decrease in order to achieve an equilibrium
• B) An increase in the demand for housing will cause an increase in the quantity supplied of housing
• C) When the demand for housing increases,the price of housing will increase but the quantity supplied will not increase in the short run
• D) The housing market is a unique market because most people had to borrow money to buy their homes
• E) The only way to increase the supply of housing is to build more houses

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Definitions:

Individuals

Refers to single human beings, distinct from a group, class, or family.

Rational Society

A hypothetical society governed by reason and logic, where policies and decisions are made based on rational thought and empirical evidence.

Original Position

A hypothetical situation in John Rawls' theory where individuals decide on the principles of justice that will structure society, without knowing their place in it.

Rawls

References John Rawls's principle of justice that emphasizes equal basic liberties, equality of opportunity, and addressing the disadvantages through redistributive policies.