Submit a 250- to 300-word response addressing two of the following labor scenarios in the new housing market:
• A new law requires that all construction workers in your area belong to a labor union. Will this shift the labor supply curve, demand curve or both in home construction? How will this affect wages and number of workers in home construction? How will this affect the cost of building a home (and price of a new home)?
• A wave of undocumented workers moves into the area. Will this shift the labor supply curve, demand curve or both in home construction? How will this affect wages and number of workers in home construction? How will this affect the cost of building a home (and price of a new home)?
• Due to a recession, the demand for the housing market decreases. Will this shift the labor supply curve, demand curve or both? How will this affect the wages and number of workers in home construction?