-The Data Show the Quantity of Small Bungalows Sold in a Suburb

question 49

Multiple Choice

-The data show the quantity of small bungalows sold in a suburb of Toronto during the month of January.Based on the given data,we can conclude that:

• A) the demand curve is not downward-sloping after all.
• B) the demand curve is generally downward-sloping,but it does not apply to the housing market in Toronto.
• C) there are exceptions to the generally downward-sloping demand curve;the period 1971 to 1991 is an example of such exceptions.
• D) the demand curve for small bungalows around Toronto in 1971 to 1991 is upward-sloping.
• E) over the 30-year period,the demand curve most likely shifted to the right.

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