The Accompanying Tables Show Data for the Hypothetical Nations of P

question 245

Multiple Choice

$\begin{array}{l}\text { Domestic Market For Steel, Alpha }\\\begin{array}{|c|c|c|}\hline Q_{S} & P & Q_{d} \\\hline 60 & \$ 5 & 10 \\\hline 40 & 4 & 20 \\\hline 30 & 3 & 30 \\\hline 20 & 2 & 40 \\\hline 10 & 1 & 50 \\\hline\end{array}\end{array}$

$\begin{array}{l}\text { Domestic Market For Steel, Beta }\\\begin{array}{|c|c|c|}\hline Q_{S} & P & Q_{d} \\\hline 80 & \$ 5 & 20 \\\hline 70 & 4 & 30 \\\hline 60 & 3 & 40 \\\hline 50 & 2 & 50 \\\hline 40 & 1 & 60 \\\hline\end{array}\end{array}$

The accompanying tables show data for the hypothetical nations of Alpha and Beta. $Q_{S}$ is domestic quantity supplied, and $Q_{d}$ is domestic quantity demanded. Assuming that Alpha and Beta are the only two nations in the world, the equilibrium world price must be lower than $\$ 4$ because, at $\$ 4$ ,

• A) both nations will export steel.
• B) both nations will import steel.
• C) Alpha will export steel and Beta will import steel.
• D) Beta will export steel and Alpha will import steel.

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Definitions:

Statistical Analysis

The process of collecting, reviewing, and interpreting data to discover patterns and trends.

Compensation System

An organizational structure designed to provide monetary and non-monetary benefits to employees for their work.

Demographic-Needs Analysis

An assessment method that examines the characteristics of a specific population to determine their specific needs and how to meet them.

Recently-Immigrated

Pertaining to individuals who have moved from one country to another to reside permanently in a recent time period.