Asked by Hallie Canto on Jun 28, 2024
Verified
Assume that the number of first-time home buyers suddenly increases.The demand curve for houses is likely shift to the right.
First-Time Home Buyers
are individuals or households purchasing a residence for the first time, often eligible for special financing or programs.
Demand Curve
A graphical representation showing the relationship between the price of a good and the quantity demanded by consumers.
- Comprehend the causes and effects of shifts in demand and supply curves.
Verified Answer
SM
Spencer MacmasterJul 01, 2024
Final Answer :
True
Explanation :
An increase in the number of first-time home buyers would increase the overall demand for houses, causing the demand curve to shift to the right.
Learning Objectives
- Comprehend the causes and effects of shifts in demand and supply curves.
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