Table 4-9 The Demand Schedule Below Pertains to Sandwiches Demanded Per Week

question 400

Multiple Choice

Table 4-9
The demand schedule below pertains to sandwiches demanded per week.

-Refer to Table 4-9.Suppose Harry,Darby,and Jake are the only demanders of sandwiches.Also suppose the following: • x = 2.
• The current price of a sandwich is $5.00.
• The market quantity supplied of sandwiches is 10.
• The law of supply applies to the supply of sandwiches.
Then there is a

• A) shortage of 5 sandwiches, and the price would be expected to rise from its current level of $5.00.
• B) shortage of 5 sandwiches, and the price would be expected to fall from its current level of $5.00.
• C) surplus of 5 sandwiches, and the price would be expected to rise from its current level of $5.00.
• D) surplus of 5 sandwiches, and the price would be expected to fall from its current level of $5.00.

---

Definitions:

Per Capita Incomes

An average amount of money earned per person in a certain area, calculated by dividing the total income of a region by its population.

U.S. Aid Programs

Initiatives provided by the United States government intended to help other countries in terms of economic development, health care, infrastructure, and education.

Growth Obstacle

Factors or conditions that hinder the economic growth and development of a country or region, such as poor infrastructure or political instability.

Standard Of Living

A level of wealth, comfort, material goods, and necessities available to a certain socioeconomic class in a certain geographic area.