Use the Accompanying Table, Which Shows the Supply and Demand

question 11

Multiple Choice

Use the accompanying table, which shows the supply and demand schedules for workers in the country of Hovian, to answer the questions that follow.

-If the wage is temporarily set at $25,it will need to __________ in order to restore equilibrium.

• A) rise
• B) fall
• C) remain unchanged
• D) decrease to zero
• E) increase to $30

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Definitions:

Cumulative Translation Gain

The total gain or loss resulting from the translation of foreign currencies into the functional currency over a period of time.

Consolidated Financial Statements

Financial statements that present the assets, liabilities, equity, income, expenses, and cash flows of a parent company and its subsidiaries as a single entity.

Consolidated SCI

Refers to the consolidated statement of comprehensive income which combines all financial activities of a parent company and its subsidiaries.

Calculate Exchange Gain/Loss

The process of determining the profit or loss from foreign exchange transactions, based on changes in exchange rates.