Assume There Is a Simultaneous Decrease in the Incomes of People

question 18

Multiple Choice

Assume there is a simultaneous decrease in the incomes of people in the market for new homes and a decrease in the wages paid to carpenters,plumbers,and electricians.All else constant,we can predict,with certainty,that in the market for new homes the equilibrium:

• A)quantity of new homes will decrease.
• B)quantity of new homes will increase.
• C)price of new homes will decrease.
• D)price of new homes will increase.

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Definitions:

Anti-war Movement

A social movement opposing war and militarism, often focusing on the moral, economic, and humanitarian impacts of military conflict.

Anti-war Movement

Collective campaigns and protests, especially prominent during the Vietnam War, opposing military conflict and advocating for peace.

Freedom

A condition or right of being able to act, speak, or think as one wants without hindrance or restraint, often viewed as a fundamental principle of democratic societies.

Cuban Missile Crisis

A 13-day confrontation in 1962 between the United States and the Soviet Union over Soviet ballistic missiles deployed in Cuba, marking the Cold War's closest approach to nuclear conflict.