Illustrate each of the following statements. For your graphs fullylabel the axes, the curves and equilibrium price and quantity. Ifthere is a shift in either of the curves, draw a new curve label itand use the arrow to show the direction to which the curveshifts. Label the new equilibrium price and quantity.For each case, you must be able to decide whether the demandchanges or the supply changes in order to determine how theequilibrium price and equilibrium quantity changes. Beforecompleting your graph, answer the questions listed to the right-hand side of each graph to help you achieve the correctconclusion.

Consider the Market for Loanable Funds Savers become concerned about the safety of the banking system and decide to keep their money in their cookie jars. 1. What factor changed? 2. What curve shifts? 3. Which way does the curve shift? 4. What happens to equilibrium price? 5. What happens to equilibrium quantity