Figure 4-4 -Refer to the Figure 4-4. If the Price Is $25

question 98

Multiple Choice

Figure 4-4
-Refer to the Figure 4-4. If the price is $25, what would happen?

• A) There would be a surplus of 300 and the price would fall.
• B) There would be a surplus of 200 and the price would fall.
• C) There would be a shortage of 200 and the price would rise.
• D) There would be a shortage of 300 and the price would rise.

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Definitions:

Personal Income

The total earnings received by an individual, including wages, salaries, and other sources, before taxes and other deductions.

Inflation

The rate at which the general level of prices for goods and services is rising, eroding purchasing power.

Nazi Death Camps

Concentration and extermination camps operated by Nazi Germany during World War II, where millions of Jews and other persecuted groups were systematically murdered in the Holocaust.

Newsreels

Short films that were regularly released in a serial format to provide audiences with news coverage and updates on current events before the advent of television.