1) During the Great Depression of the 1930's, many around the world lost their jobs. The lack of demand in many sectors meant that unemployment rose substantially, and many of those lucky enough to keep their jobs faced cuts to their wages. a) These effects meant that consumers' incomes fell during this time. New Zealand's agricultural sector was severely affected as we rely on overseas demand for many products. For example, consider the market for exported wool. Describe in words what happened to the market for exported wool when overseas consumer incomes fell during the Great Depression, including what happened to the curves, price, and quantity. b) Please draw out the effects from a) on a demand and supply diagram, labelling the axes, curves, the old equilibrium price and quantity, the new equilibrium price and quantity, and any shifts of the curves