Use the Following Table,which Shows the Supply and Demand Schedules

question 97

Multiple Choice

Use the following table,which shows the supply and demand schedules for workers in the country of Hovian,to answer the following questions:

-Wages above ________ will cause a ________.

• A) $10; surplus
• B) $50; shortage
• C) $20; surplus
• D) $30; shortage
• E) $40; shortage

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Definitions:

Trade Barriers

Measures such as tariffs, quotas, and import bans that governments impose to restrict international trade and protect domestic industries.

Canada

a country located in the northern part of North America, known for its vast landscapes, multicultural diversity, and economic strength.

Mexico

A country located in the southern portion of North America, known for its rich cultural heritage, diverse landscapes, and economic significance.

Offshore Outsourcing

The practice in which businesses hire people in another country to perform various tasks.