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Economics (AS & A Level) · May / June 2021 · Paper 13 · Question 11

9708Demand and supply curves

A country's central bank has commissioned a report on the demand for and price of houses. What might be the most likely combination of reasons for an increase in the price and quantity demanded of houses?

  1. Aincomes down, interest rates unchanged, wages of bricklayers up
  2. Bincomes down, interest rates up, wages of bricklayers unchanged
  3. Cincomes unchanged, interest rates up, wages of bricklayers down
  4. Dincomes up, interest rates down, wages of bricklayers unchanged

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Correct answer: D. incomes up, interest rates down, wages of bricklayers unchanged

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