Suppose the Market Equilibrium Price of Wheat Is $5 Per

question 83

Multiple Choice

Suppose the market equilibrium price of wheat is $5 per bushel, and the government sets a price floor of $7 per bushel to aid growers. What is the most likely result of this action?

• A) There will be a shortage of wheat.
• B) There will be a surplus of wheat.
• C) There will be an increase in the quantity of wheat demanded as the result of the price floor.
• D) There will be a decrease in the quantity of wheat supplied as the result of the price floor.

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Definitions:

Chorionic Villus Sampling

A prenatal test in which a sample of chorionic villi from the placenta is taken to test for genetic abnormalities in the fetus.

Amniocentesis

A medical procedure used in prenatal diagnosis to sample amniotic fluid from the uterus to detect abnormalities in a fetus.

Intra-Uterine Probe Testing

A diagnostic or investigative procedure that involves inserting a device into the uterus, often used for assessing fetal health or for diagnostic purposes.

Ultrasound

A diagnostic imaging technique that uses high-frequency sound waves to create images of structures within the body.