The Figure Given Below Shows the Demand Curves for Five

question 48

Multiple Choice

The figure given below shows the demand curves for five products: A, B, C, D, and E.Figure 6.1

-As income levels rose moderately last year in the San Jose area, it was observed by local realtors that housing sales increased substantially. It is clear from this information that, everything else held constant, the income elasticity of demand for houses is _____.

• A)negative and relatively low
• B)negative and relatively high
• C)positive and relatively low
• D)positive and relatively high
• E)neither positive nor negative

---

Definitions:

Body Weight

The mass or weight of a person's body, often used as an indicator of health and wellness.

Ventromedial Hippocampus

A region of the hippocampus involved in the regulation of emotions, fear responses, and the formation of memories.

Hypothalamus

A region of the brain responsible for the regulation of certain metabolic processes and other activities of the autonomic nervous system.

Ventromedial Hypothalamus

A region of the hypothalamus involved in regulating hunger, satiety, and the body's energy homeostasis.