An article in the Wall Street Journal on the recreational vehicle (RV) industry listed several factors that
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An article in the Wall Street Journal on the recreational vehicle (RV) industry listed several factors that led to a larger quantity of RVs sold:
a. Increasing confidence among households that their future incomes would rise
b. Low-interest loans from banks to finance the purchase of an RV
c. Falling gasoline prices
d. “The ‘glamping’ trend that has seen a much younger generation embrace the RV lifestyle” Briefly explain whether each of these factors caused a movement along the demand curve for RVs or a shift in the demand curve for RVs. If you believe the demand curve shifted, explain whether the curve shifted to the right or to the left.
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