House prices slow down In 2005 house prices in the UK we risig much more gowly than in previous years. In 2003 house prices rose on average by 20.3%. and in 2004 by 18.2%. but in 2005 house prices
we rising at a slower rale. This fall In house price inflation has been finked to slower wage growth. interest rate nary, (from 3% to 4.5% over the past hvo years) and lower expectations as to Mare
house price nses by homeowners.

I a) Why do we house prices using less input than previously? b) Can you use a demand supply diagramn to explain your reason?
Irish smoking ban Ireland’s ban on smoking in the workplace seems not to have triggered a feared collapse in its drinking industry in the six months following its introduction. Many pubicans have
com-plained that then takings have suffered since the Irish Republic became the fast country to introduce a workplace smoking ban on 29 March 2604. but Ills is nothig like the meltdown that some
had predicted. The Licensed Vintners Association. which retoreser4S pub OWnere In Dublin. claims that about 2.000 lobs in the drinks ndastry have been lost and that. on moray,. Dublin pub sales are
16% lower. The Vintners’ Federation of Ireland. which represents same 60.000 rural publicans. says that sales have fallen by an average of 15 to 25% Without a doubt the publicans who have suffered
most are those closest to Northern Ireland. where smokers can std putt away over a Guinness.
Use denw4 and supply diagrams to explain some of the impacts of the smoking ban on pubs in Ireland.