This question is based on the video Effect of shocks on the market. If you have not previously viewed this video please do so by clicking the link. Suppose the demand for new homes is a normal good and people's incomes decrease. At the initial price, there is a _________ and so the equilibrium price will __________ and the equilibrium quantity will __________. ANSWER Unselected surplus; fall; decrease Unselected surplus; fall; rise Unselected surplus; rise; decrease Unselected shortage; fall; rise