Use the Following to Answer Question

question 124

Multiple Choice

Use the following to answer question:
-(Figure: The Demand and Supply of Wheat) Use Figure: The Demand and Supply of Wheat.A temporary price of $4 in this market would result in a _____ of _____ bushels per period.

• A)surplus;4,000
• B)shortage;2,000
• C)shortage;4,000
• D)surplus;2,000

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Definitions:

Cash And Carry

A policy adopted by the United States prior to entering World War II that allowed the sale of materials to belligerents, as long as they paid in cash and transported the goods themselves.

Great Britain

The island nation comprising England, Scotland, and Wales, which is part of the United Kingdom.

Pearl Harbor Attack

A surprise military strike by the Imperial Japanese Navy Air Service against the United States naval base at Pearl Harbor, Hawaii, on December 7, 1941, leading to the United States' entry into World War II.

Surprise Attack

A military tactic involving an unexpected assault on an adversary, with the intent of catching them off guard and gaining a tactical advantage.