Exhibit 4-1 -If the Price of the Good Described in Exhibit 4-1

question 119

Multiple Choice

Exhibit 4-1

-If the price of the good described in Exhibit 4-1 is $1.50, then

• A)there is a shortage
• B)there is a surplus
• C)the market is in equilibrium
• D)the quantity supplied is 30 units
• E)the quantity demanded is 30 units

---

Definitions:

French War Costs

Refers to the financial and human expenses incurred by France during its involvement in various historic wars.

Vietnam

A Southeast Asian country known for its history, including the Vietnam War (1955-1975) involving the US, the North Vietnamese government, and the Viet Cong.

Nation Building

The process of constructing or structuring a national identity using the power of the state, often in the context of newly independent nations.

Heavy Casualties

A situation in which a large number of individuals are wounded, killed, or missing in action, particularly in a military context.