In Which of the Following Situations Will the Effect Upon

question 100

Multiple Choice

In which of the following situations will the effect upon the equilibrium price of wheat be indeterminate?  

• A) when supply decreases and demand increases 
• B) when demand decreases and supply increases 
• C) when demand remains constant and supply increases 
• D) supply decreases and demand decreases

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Definitions:

Minimum Wage

The lowest legal hourly pay that employers are allowed to pay workers, established to ensure a basic standard of living for employees.

Pay Equity

A principle (or statute) requiring equal pay for work of equal value.

Disabled Workers

Individuals who have a physical or mental impairment that substantially limits one or more major life activities, and are part of the workforce.

Affirmative Action

Programs intended to correct racial, gender, or other imbalances in the workplace.