Interpret the Following Statement: "Demand Exceeds the Available Quantity of Apartment

question 107

Multiple Choice

Interpret the following statement: "Demand exceeds the available quantity of apartment housing.If the price of apartment rentals were increased, demand would decrease and an equilibrium could be achieved."

• A)The statement is correct.
• B)The statement is incorrect because the price should be decreased, not increased, in order to achieve equilibrium.
• C)The statement would be correct if it read "supply would decrease" in response to a price increase.
• D)The statement is incorrect because it confuses "demand" with "quantity demanded."
• E)The statement would be correct only if the terms "demand" and "supply" were interchanged.

---

Definitions:

Upper Class

The social group that typically has the highest status in society, often associated with wealth, power, and privilege.

Mainstreamed

The integration of children with disabilities or special needs into regular educational classrooms.

Longitudinal Study

A research method that involves repeated observations of the same variables (e.g., people) over short or long periods of time, often years or decades.

High IQ's

Refers to individuals who score significantly above the average in standardized intelligence quotient (IQ) tests.