Macroeconomics - Week #2 Assignment Problem 3 Demand and Supply Exercises Rental Units Government price Price in New York City ceiling on rental Directions: Fill in the boxes (QD, QS, D. S, P, Q) in the next three demand and supply units for low-income exercises. Based upon the event, what can we expect to occur for the market? Use a "0" (zero) housing if nothing will occur for that particular variable, a "+" (plus) if an increase, or a "-" (negative) if a reduction. QD stands for Quantity Demanded, QS for Quantity Supplied, D for Demand, S for Supply. P for Price, and @ for Quantity. D Quantity Problem 1 D P D Market Event Automobile windshields Toyota, GM, and Ford Price plan to increase production due to GRANTHAM higher demand expectations. -UNIVERSITY Quantity QD D 5 F Problem 2 Gasoline One of the major Price refineries in the Gulf in the U.S. is shut down for repairs due to fire. Quantity QD D F D