Table 43 -The Table Given Below Shows the Quantity Supplied and the |

question 120

Multiple Choice

Table 4.3
$$\begin{array} { | c | c | c | } \hline \text { Price (\$) } & \text { Quantity demanded } & \text { Quantity supplied } \\\hline 1.0 & 100 & 10 \\\hline 1.20 & 90 & 30 \\\hline 1.40 & 80 & 50 \\\hline 1.50 & 70 & 70 \\\hline 1.60 & 60 & 90 \\\hline\end{array}$$
-The table given below shows the quantity supplied and the quantity demanded of a good at different prices. If the price of the good is $1.40, there is a _____.

• A) shortage of 30 units
• B) surplus of 30 units
• C) shortage of 20 units
• D) surplus of 20 units
• E) surplus of 10 units

---

Definitions:

Treaty of Versailles

The peace treaty that ended World War I in 1919, imposing heavy reparations and territorial losses on Germany.

League of Nations

An international organization established after World War I intended to maintain world peace and prevent future conflicts.

Senate

One of the two chambers of the United States Congress, responsible for making federal laws and composed of senators from each state.

Foreign Policy

A government's strategy in dealing with other nations, determining how they interact with other countries politically, economically, and militarily.