carefully explain what is happening in the following market.indicate the impact if any on demand, supply price and quantity: In the market for housing, house prices are expected to increase significantly in the neat future. choose the suitable answer for question 1,2,3 &4 Questions: 1) impact on supply 2) impact on demand 3) impact on price 4) impact on quantity Answer: a. decrease equilibrium quantity b.excess supply c. increase equilibrium quantity d. decrease towards equilibrium
carefully explain what is happening in the following market.indicate the impact if any on demand, supply price and quantity: In the market for housing, house prices are expected to increase significantly in the neat future. choose the suitable answer for question 1,2,3 &4 Questions: 1) impact on supply 2) impact on demand 3) impact on price 4) impact on quantity Answer: a. decrease equilibrium quantity b.excess supply c. increase equilibrium quantity d. decrease towards equilibrium
Brief Principles of Macroeconomics (MindTap Course List)
8th Edition
ISBN:9781337091985
Author:N. Gregory Mankiw
Publisher:N. Gregory Mankiw
Chapter4: The Market Forces Of Supply And Demand
Section: Chapter Questions
Problem 8PA
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carefully explain what is happening in the following market.indicate the impact if any on
In the market for housing, house prices are expected to increase significantly in the neat future.
choose the suitable answer for question 1,2,3 &4
Questions:
1) impact on supply
2) impact on demand
3) impact on price
4) impact on quantity
Answer:
a. decrease
b.excess supply
c. increase equilibrium quantity
d. decrease towards equilibrium
e.increase towards equilibrium
f. change in price in uncertain
g.decrease
h.excess demand
i. change in quantity uncertain
j.increase equilibrium price
k. no impact
l.shift outwards/ to right
m.shift inwards/to left
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