Use the Following Table to Answer the Following Questions

question 21

Multiple Choice

Use the following table to answer the following questions.
Market for Corn

-If the price ceiling for corn is $2.50,what amount and type of disequilibrium would be present in the market for corn?

• A) There would be neither a shortage nor a surplus.
• B) There would be a surplus of 61,000.
• C) There would be a shortage of 61,000.
• D) There would be a shortage of 186,000.
• E) There would be a shortage of 125,000.

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Definitions:

WAIS

The Wechsler Adult Intelligence Scale, a widely used test designed to measure a person's intellectual ability.

WISC

The Wechsler Intelligence Scale for Children, a psychological test that measures a child's intellectual and cognitive ability.

Raven's Progressive Matrices

A measure of non-verbal abstract reasoning, consisting of visual puzzles that progressively increase in complexity.

Raven's Progressive Matrices

A nonverbal group test typically used in educational settings to measure abstract reasoning and regarded as an estimation of fluid intelligence.