Describe how each of the following events would affect (
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Describe how each of the following events would affect (1) demand for construction workers and (2) construction wages in
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Describe how each of the following events would affect (1) demand for construction workers and (2) construction wages in Portland, Oregon. Illustrate with supply and demand curves. a. A sharp increase in interest rates on new-home mortgages reduces the demand for new houses substantially. b. The economy of the area booms. Office rents rise, creating demand for new office space. c. A change in the tax laws in 2010 made real estate developments more profitable. As a result, three major developers start planning to build major shopping centers.
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