A Surplus of Wheat

question 129

Multiple Choice

A surplus of wheat

• A)is impossible if people are hungry
• B)is impossible if the price of wheat is below equilibrium
• C)will result in an increase the price of wheat
• D)is unlikely to result in any change in the price of wheat
• E)indicates that the problem of scarcity of wheat has been solved

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Definitions:

Salvage Value

The estimated resale value of an asset at the end of its useful life.

Annual Retirement Income

The total amount of income a person receives in one year after retiring from work, which can come from pensions, savings, investments, or other sources.

After Tax

Refers to the amount of money or income that remains after all federal, state, and withholding taxes have been deducted.

Annual Return

The percentage of change in an investment's value over a one-year period, including any dividends or interest earned.