As more houses are needed in Calgary due to the oil boom,the demand curve for an average house in Calgary is expected to
A) shift to the right.
B) shift to the left.
C) move down along the old existing demand curve.
D) move up along the old existing demand curve.
E) move in the opposite direction as the supply curve.

Question

Quizplus · Accepted Answer

The increase in demand for houses due to the oil boom will shift the demand curve to the right, indicating a higher price for the same quantity of houses.

As More Houses Are Needed in Calgary Due to the Oil