Suppose That the Equilibrium Price and Quantity of New Houses

question 116

Multiple Choice

Suppose that the equilibrium price and quantity of new houses both increase.Which of the following could be a cause of this change?

• A) The wage paid carpenters who build new houses might have risen.
• B) A technological advance in framing a new house might have occurred.
• C) The rent for nearby apartments might have fallen.
• D) More home buyers might have moved into the area.
• E) The cost of wood framing used to build houses might have fallen.

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Definitions:

Archetype

In psychology, a universally understood symbol or pattern of behavior, often derived from myths and collectively inherited unconscious.

Supraordinate

An overarching or superior category or classification that encompasses more specific items related to a broader concept.

Unconscious Elements

Aspects of the mind that are not within one's conscious awareness, influencing thoughts, feelings, and behaviors.

Ego

A part of the mind that mediates between conscious and unconscious thoughts, balancing the demands of the id, superego, and reality.