6. All else being equal, how will the following events affect price and quantity in the Canadian real estate market? Use a diagram to explain each of your answers. (30%) (a) The government raises immigration targets, causing migrants to flood into the country. (b) Crime increases in Canada. (c) The government gets rid of many construction regulations, making building easier. (d) A recession hits the nation. (e) The Bank of Canada raises interest rates. (f) The Baby Boomers all die at around the same time.
6. All else being equal, how will the following events affect price and quantity in the Canadian real estate market? Use a diagram to explain each of your answers. (30%) (a) The government raises immigration targets, causing migrants to flood into the country. (b) Crime increases in Canada. (c) The government gets rid of many construction regulations, making building easier. (d) A recession hits the nation. (e) The Bank of Canada raises interest rates. (f) The Baby Boomers all die at around the same time.
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Question
Transcribed Image Text:6. All else being equal, how will the following events affect price and quantity in the
Canadian real estate market? Use a diagram to explain each of your answers. (30%)
(a) The government raises immigration targets, causing migrants to flood into the
country.
(b) Crime increases in Canada.
(c) The government gets rid of many construction regulations, making building easier.
(d) A recession hits the nation.
(e) The Bank of Canada raises interest rates.
(f) The Baby Boomers all die at around the same time.
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