Posted: July 20th, 2021
For this week’s DB read chapter 4 and answer the following 2 questions, You have to include a diagram with each answer that you provide. If you are not too tech-savvy and can’t draw the graph on the computer, you can draw the diagram on paper then scan it and attach it to the DB thread you create.
1. Select 2 events below and for the 2 selected predict how each event will raise or lower the equilibrium wage and quantity of oil workers in Texas. In each case, sketch a demand and supply diagram to illustrate your answer. Events:
2. Select 2 economic changes below and for each predicts how it will affect the equilibrium price and quantity in the financial market for home loans. Sketch a demand and supply diagram to support your answers.
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