-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.

Question

-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.

Quizplus · Accepted Answer

The statement suggests that over the 30-year period, there was likely an increase in demand for small bungalows, which would cause the demand curve to shift to the right.

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