Table 4-A
Use the Following Information About Demand and Supply

question 141

Multiple Choice

Table 4-A
Use the following information about demand and supply schedules to answer the question.
$\begin{array}{lccc}\text { Price } & \mathbf{D}_{\mathbf{1}} & \mathbf{D}_{\mathbf{2}} & \mathbf{S}_{\mathbf{1}}&\mathbf{S}_{\mathbf{2}} \\\$ 12 & 5 & 9 & 19&14 \\\$ 10 & 8 & 12 & 17&12 \\\$ 8 & 11 & 15 & 15&10 \\\$ 6 & 13 & 18 & 13&8 \\\$ 4 & 16 & 21 & 11&6 \\\$ 2 & 18 & 24 & 9&4\end{array}$

-Refer to Table 4-A.Suppose that D₁ and S₂ are the demand and supply schedules for Product A.If the government imposes a price floor of $6:

• A)a shortage of 5 units results.
• B)a surplus of 5 units results.
• C)a shortage of 10 units results.
• D)a surplus of 10 units results.
• E)the floor will have no impact on the quantity of Product A traded.

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Definitions:

Platt Amendment

An amendment to a U.S. army appropriations bill (1901), which stipulated conditions for the withdrawal of United States troops remaining in Cuba following the Spanish–American War, and shaping the Cuban-U.S. relations thereafter.

Military Intervention

The act of a nation deploying its armed forces into another territory, typically for conflict resolution, peacekeeping, or to enforce a political objective.

Women's Christian Temperance Union

An organization founded in 1874 advocating for the prohibition of alcohol, using women's supposedly greater purity and morality as a rallying point.

Prohibition

A period in U.S. history (1920-1933) during which the manufacture, sale, and transportation of alcoholic beverages were legally prohibited.