Buyers Scrambled to Secure Stocks of Australian Wool Following a Forecast

question 172

Multiple Choice

Buyers scrambled to secure stocks of Australian wool following a forecast of an 11 percent decline in wool production.What happens in the Australian wool market as a result of this announcement?

• A)The demand curve for Australian wool shifts to the left in anticipation of higher prices in the future.
• B)The demand curve for Australian wool shifts to the right in anticipation of higher prices in the future.
• C)The quantity of Australian wool demanded increases in anticipation of higher prices in the future.
• D)The quantity of Australian wool demanded decreases in anticipation of lower quantities in the future.

---

Definitions:

Sexual Double Standard

A societal norm that allows or even encourages disparate sexual behaviors for individuals based on their gender, typically more permissive for men than for women.

Social Power

The ability of an individual or group to influence or control the actions, behaviors, and opinions of others within a social context.

Queer Theory

An interdisciplinary perspective that seeks to challenge normative concepts of gender and sexuality, exploring the fluidity and social construction of these identities.

Heterosexism

The assumption that heterosexuality is the norm or superior to other sexual orientations, leading to discrimination and bias against non-heterosexual people.