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Exhibit 30-1 -If the World Price of the Good Is $4, According

Question 79

Multiple Choice

Exhibit 30-1 Exhibit 30-1 -If the world price of the good is $4, according to the data in Exhibit 30-1, A) there is an excess demand for the good, and the price will fall. B) there is an excess supply of the good, and the price will fall. C) there is an excess supply of the good, and the price will rise. D) there is an excess demand for the good, and the price will rise. E) this is the equilibrium price.
-If the world price of the good is $4, according to the data in Exhibit 30-1,


A) there is an excess demand for the good, and the price will fall.
B) there is an excess supply of the good, and the price will fall.
C) there is an excess supply of the good, and the price will rise.
D) there is an excess demand for the good, and the price will rise.
E) this is the equilibrium price.

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