Economics: Private and Public Choice (MindTap Course List)
Economics: Private and Public Choice (MindTap Course List)
15th Edition
ISBN: 9781285453538
Author: James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson
Publisher: Cengage Learning
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Chapter 10, Problem 13CQ

(a)

To determine

Illustrate the impact of an increase in the housing price on output and employment in a graph.

(b)

To determine

Illustrate the impact of a fall in the housing price on output and employment in a graph.

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