FIGURE 3-3 Refer to Figure 3-3

question 120

Multiple Choice

FIGURE 3-3 Refer to Figure 3-3.At a price of P₃ there is excess ________ in the market for X and pressure for the price to ________.

• A)supply; fall
• B)supply; rise
• C)demand; fall
• D)demand; rise

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Definitions:

Judicial Precedent

Legal cases that establish principles or rules that courts may follow in deciding subsequent cases with similar issues or facts.

Injunction

A judicial order that restrains a person from beginning or continuing an action threatening or invading the legal right of another individual.

Union Dues

Fees paid by members to labor unions for the support of union activities, including negotiations, legal representation, and other services.

Political Activity

Participation in any action aimed at influencing government policy or decisions, ranging from voting and lobbying to activism and public demonstration.