During the period from 2007 to 2009, the number of new automobiles sold in the United States
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During the period from 2007 to 2009, the number of new automobiles sold in the United States fell from 16 million to 10.4 million. How do you expect the decrease in demand for cars to affect the price of cars? During that same period, employment in motor vehicles and parts manufacturing fell from 1 million workers to 622,000. Why does a decrease in demand for cars lead to a decrease in demand for autoworkers?
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A decrease in demand for cars will lead to a decrease in the price of cars This is because when there is less demand for a product businesses are will...View the full answer
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