Exhibit 4-1 -If the Price of the Good Described in Exhibit 4-1

question 41

Multiple Choice

Exhibit 4-1

-If the price of the good described in Exhibit 4-1 is $1.60, then 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

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Definitions:

New Deal

A series of programs, public work projects, financial reforms, and regulations enacted by President Franklin D. Roosevelt in the United States between 1933 and 1939, designed to respond to the Great Depression.

Social Security

A government program that provides financial assistance to people with an inadequate or no income, primarily the elderly, disabled, and families with dependent children.

New Deal Coalition

An alliance of diverse voter groups in the United States that supported the Democratic Party because of Franklin D. Roosevelt's New Deal policies in the 1930s and 1940s.

Vietnam War

A prolonged conflict (1955-1975) between Communist forces in North Vietnam and the government of South Vietnam, heavily involving the United States and other allies.