-The Table Shows the Demand and Supply Schedules for Jeans

question 267

Multiple Choice

-The table shows the demand and supply schedules for jeans.

• A) At $60 a pair, there is a shortage of jeans and the price will fall.
• B) At $60 a pair, there is a surplus of jeans and the price will rise.
• C) At $40 a pair, there is a shortage of jeans and the price will rise.
• D) At $40 a pair, there is a shortage of jeans and the price will fall.

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Definitions:

Pay Level

The average amount (including wages, salaries, and bonuses) the organization pays for a particular job.

Military Pay

The compensation, including salary, benefits, and allowances, provided to members of the armed forces, varying by rank, experience, and duty status.

Civilian Jobs

Employment positions not associated with the military or defense sectors, available to the general public.

Pay Surveys

Research conducted to collect and analyze data on wages and salaries within an industry, region, or occupation to determine competitive compensation levels.