For each of the following draw a separate diagram to demonstrate the answer. (Hint: Remember the difference

Question:

For each of the following draw a separate diagram to demonstrate the answer. (Hint: Remember the difference in a change in demand [supply] and a change in quantity demanded [supplied]. Don't shift both curves unless appropriate). Describe what happens to equilibrium price and sales. Explain why or why not this makes sense in the real world.
-A- Show the effect on the U.S. new construction residential housing market in the event of a severe economic recession such as the country recently experienced.
-B- Show the effect on the U.S. air travel market if American Airlines unexpectedly folds (ceases operations) overnight.
-C- Show the effect on the U.S. domestic car market if the price of foreign cars increases due to an shock.
Exchange Rate
The value of one currency for the purpose of conversion to another. Exchange Rate means on any day, for purposes of determining the Dollar Equivalent of any currency other than Dollars, the rate at which such currency may be exchanged into Dollars...