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My questions are the questions that say MY QUESTIONS. to answer it, you have to know...

My questions are the questions that say MY QUESTIONS. to answer it, you have to know the answer to the questions above the "MY QUESTIONS". however, I just need the "MY QUESTIONS" answered. thank you.

Recessions often are related to the fact that consumers consume less of all of the goods they typically consume. During a recession unemployment typically increases. Relate this behavior to the budget constraint with the composite good on the y-axis and housing measured in square feet on the x-axis. In the Great Recession, the price of housing fell considerably. Show the combined effect of a recession and a decrease in housing prices on a similar graph.

MY QUESTIONS: in a. the recession causes the budget constraint to shift in but keep the same slope. can you explain why it shifts in and keeps the same slope? in b. The recession combined with a decrease in housing prices causes the budget constraint to shift in but get flatter. can u explain why it shifts in and gets flatter?

Can you please explain the answer in detail, or in way that is understable..... thank you.

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