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7) What is the correct way to label the axis on a graph which illustrates a demand c urve
? 7)
_
A) Quantity on horizontal axis and price on the vertical axis.
B) Price on horizontal axis and quantity on the vertical axis.
C) Income on the horizontal axis and price on the vertical axis.
D) Price on the horizontal axis and income on the vertical axis.
8) What is the term for income measured by the amount of goods and services which it 8)
will buy?
A) Income effect.
B) Real income.
C) Actual income.
D) Net income.
E) Nominal income.
9) What is the term for the total demand for a product by all consumers? 9)
A) Product market.
B) Market Supply.
C) Quota.
D) Market Demand.
E) Schedule of wants.
16) Which of the following is explained by the combination of the substitution effect and 16)
the income effect?
20) Whatis the term for a change in the amounts that a producer is willing and able to 20)
make available as a result of a price change?
A) Change in the market supply. B) Change in the quantity supplied.
C) Change in the market demand. D) Change in the individual supply.
21) What is the term for the quantities which producers are willing and able to sell per
21)
period of time at various prices?
A) Supply.
B) Surplus.
C) Product availability.
D) Quantity supplied.
E) Quantity demanded.
23) What is the term for the total supply of a product offered by all producers? 23)
A) Aggregate supply. B) Market Supply.
C) Equilibrium quantity. D) Saturation point.
26) Graphically, what is the effect of a decrease in the price of a product? 26)
A) A rightward shift in the supply curve.
B) A leftward shift in the supply curve.
C) A leftward movement on the supply curve.
D) A rightward movement on the supply curve.
27) What is the term for the mechanism which brings buyers and sellers together to assist 27)
them in negotiation the exchange of products?
A) Supply and demand.
B) Opportunity cost.
C) Laissez-faire.
D) Production possibilities.
E) The market.
28) Which of the following is not a result of the greater availability of electronic 28)
communication?
A) Supply chain bottlenecks are increasing.
B) Buyers have access to more information.
C) The need to stockpile inventory is diminishing.
D) The sellers markets are expanding.
THE END
THE Y. M. C. A. BOYS SERIES
By BROOKS HENDERLEY
12mo. Cloth. Illustrated. Price per volume, 60 cents, postpaid.
Telling how the boys of Cliffwood were a wild set and how, on
Hallowe’en, they turned the home town topsy-turvy. This led to an
organization of a boys’ department in the local Y. M. C. A. When the
lads realized what was being done for them, they joined in the
movement with vigor and did all they could to help the good cause.
To raise funds they gave a minstrel show and other entertainments,
and a number of them did their best to win a gold medal offered by a
local minister who was greatly interested in the work of upbuilding
youthful character.
In this tale the scene is shifted to the seashore, where the boys
are having a vacation for the summer. Encouraged by the
temperance work done in their home town, they join a local crusade
to close the various drinking and gambling houses. They fall in with
another lad, the son of a well-known drunkard of the summer resort,
and do all they can to aid him. A good, clean-cut boys’ story, full of
life and action, not at all preachy, but teaching the best of morals.
By CLARENCE YOUNG
12mo. Illustrated. Price per volume, 60 cents, postpaid.
Fresh from their adventures in their automobile, their motor boat and
their airship, the youths are sent to college to complete their interrupted
education. Some boys at the institution of learning have heard much about
our heroes, and so conclude that the Motor Boys will try to run everything
to suit themselves.
A plot is formed to keep our heroes entirely in the background and not
let them participate in athletics and other contests. How the Motor Boys
forged to the front and made warm friends of their rivals makes unusually
interesting reading.
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