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:

Traveler's Checks

A form of preprinted, fixed-amount cheques used by travelers to safely carry money; they can be exchanged for local currency.

One-Write System

A type of accounting system that allows for data to be entered into ledgers and journals at the same time through the use of carbon paper or a similar method.

Accounting Forms

Documents used for recording financial transactions and maintaining accounting records.

Payee

A person who receives a payment.