The Price of Wheat Increases, but Few People Cut Back

question 39

Multiple Choice

The price of wheat increases, but few people cut back on their consumption of bread because:

• A) the price of bread is a small portion of the budget, and thus the demand for bread is inelastic.
• B) the price of bread is a large portion of the budget, and thus the demand for bread is elastic.
• C) change in the price of wheat does not affect the price of bread.
• D) None of the answers is correct.

Comprehend how event handling works with GUI components.

Understand the methods of initializing and managing applet execution.

Recognize Java's approach to color management and text representation in GUIs.

Understand the significance and use of package javax.swing in building Java applets.

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Definitions:

Hawthorne Studies

A series of experiments conducted in the 1920s and 1930s that concluded social and psychological factors affect productivity and work conditions.