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After a severe bout of foreclosures and defaults on home loans banks made it harder for people to borrow How does this change influence The demand for new homes

After a severe bout of foreclosures and defaults on home loans, banks made it harder for people to borrow. How does this change influence • The demand for new homes? • The supply of new homes? • The price of new homes? Illustrate your answer with a graphical analysis. 7. Alabama food prices jump in May Alabama Farmers Federation announced that food prices in May will increase. In previous unprofitable years, farmers reduced their herds with the result that in 2009 meat production will fall. Bacon is expected to rise by 32 cents a pound to $4.18 and steaks by 57 cents to $8.41 a pound. Source: The Birmingham News, May 21, 2009 Explain why the reduction of herds will lead to a rise in meat prices today. Draw a graph to illustrate

Apr 30 2020 View more View Less

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