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Business, 16.02.2021 01:00 inucornspineapple

Suppose the local real estate market is in equilibrium. A recession causes local household incomes to decline. At the same time, construction of a large subdivision of new homes has just been completed. Given these two changes and assuming that real estate is a normal good, we can predict that the price of real estate will and the quantity of real estate bought and sold will .

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