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Writing Project 2 Assignment - economic recoveries but has...

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Crystal Jenkins Derrick Knight Jr, Jonathan Risquez, July 19, 2010 ECO 2013 11:30am TR Writing Project # 2 1. New home sales fell in May by what percent? New home sales fell in May by 33 percent. 2. The bleak report from the Commerce Department is the first sign of what? The bleak report from the Commerce Department is the first sign of how the end of federal tax credits could weigh on the nation's housing market. 3. Builders have sharply scaled back construction in the face of what? Builders have sharply scaled back construction in the face of a severe housing market bust. 4. The drop in new-home sales means fewer what? The drop in new-home sales means fewer jobs in the construction industry, which normally powers
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Unformatted text preview: economic recoveries but has remained lackluster this time. 5. Use aggregate supply and demand to illustrate the impact of the housing market on our economy. People not buying new houses will cause investments to go down, also causing consumption to go down because people will spend money on things. This will cause aggregate demand to shift down. Aggregate supply will stay the same because with no one buying new homes, there will not be anymore built, also the new homes will not be knocked down so there will not be an increase or decrease in demand....
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