Refer to the Figure Below to Answer the Following Questions

question 59

Multiple Choice

Refer to the figure below to answer the following questions.

The figure shows the market for shirts in Canada, where D is the domestic demand curve and S is the domestic supply curve. The world price is $20 per shirt.
Figure 31.1.1
-In Figure 31.1.1, with international trade ________ million shirts per year are produced in Canada.

• A)48
• B)32
• C)20
• D)56
• E)16

---

Definitions:

Real Wages

Wages adjusted for inflation, representing the purchasing power of the income received from work.

Human Capital

The combined abilities, expertise, and non-physical assets of people that can be leveraged to generate economic worth.

Future Earnings

Refers to the projected income or profits that an individual, company, or asset is expected to generate in the future.

Minimum Wage

The lowest legal hourly pay that employers can offer to workers, set by government legislation to protect employees from unduly low compensation.