Discuss and explain specifically in which ways the labour demand and labour supply of your city will be affected by this economic growth.
1) a. Please discuss and explain specifically in which ways the labour demand and labour supply of your city will be affected by this economic growth. justify how the equilibrium wage and total employment in your city
2) Based on the lecture on the monocentric city, household income in your city will decrease, gasoline prices will rise, compare to the original ones in the different areas of the city, as you move away from the centre, after the market reaches the new equilibrium due to these changes.
3) 3) Define geographically the centre of the city you live in and identify a main road that leads away from this centre , Show on Google Map and describe the characteristics of the major residential neighbourhoods/locations , critically discuss and evaluate whether housing rents in the residential neighbourhoods along this major road are declining proportionately with the distance (at a stable rate) from the centre, as it is postulated by the simple model of the urban housing market ( THIS CAN BE ANY CITY JUST TO SHOW THE APPLICATION)
