This assignment deals with markets in action. By visiting. the Bureau of Labor Statistics at (http://www.bls.gov/eag/eag.us.htm) and under Economy at a Glance observe the latest trend in average hourly earnings. And visit Energy Information Administration (http://www.eia.doe.gov/oil_gas/petroleum/info_glance/petroleum.html) or Monthly Enegry
Reviewd write 2-3 paragraph about the questions listed below.
Question 1: Which non-price determinant of demand is affected by average hourly earnings?
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Question 2: Observe changes in the price per gallon for gasoline in the graph. Use changes in demand and supply curves to explain your observation.
Links to assist with assignment: https://www.bls.gov/eag/eag.us
http://www.eia.doe.gov/oil_gas/petroleum/info_glance/petroleum.html
DUE DATE: April 30,2021 @ 11:00pm ET
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