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Socialist Writer Upton Sinclair Won Statewide Nomination for California Governor

question 25

Multiple Choice

Socialist writer Upton Sinclair won statewide nomination for California governor by representing which party?


Definitions:

Market Price

The price at which a product or service is traded in the marketplace, determined by supply and demand.

Market Clearing Level

The price and quantity at which supply equals demand, so there is no surplus or shortage in the market.

Surplus

Situation in which the quantity supplied exceeds the quantity demanded.

Equilibrium Quantity

The quantity of goods or services that is supplied and demanded at the equilibrium price, where supply equals demand.

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