Refer to the data. If the price in this market was $4:
Answer the question on the basis of the given supply and demand data for wheat:
A. the market would clear; quantity demanded would equal quantity supplied.
B. buyers would want to purchase more wheat than is currently being supplied.
C. farmers would not be able to sell all their wheat.
D. there would be a shortage of wheat.
C. farmers would not be able to sell all their wheat.
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The Gallatin Plan (1808)
(a) was a plan by the U.S. Senate for a comprehensive system of internal land and water transport in the eastern part of the country to be built by the federal government. (b) was promoted on the basis that only the federal government could command sufficient resources to build a transportation system. (c) was partially implemented but not completed by the federal government because of concerns about the constitutionality of such federal action. (d) was characterized by all of the above.
Refer to the above figure. The figure gives the payoff matrix for two individuals who are being accused of robbing a bank together. If Bob confesses, what is the best strategy for Harry?
A) Confess. B) Don't confess. C) Flip a coin to decide what to do. D) There is no best strategy.