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1Demand for a product is likely to be price-inelastic: Athe smaller the number of substitutes. Bthe smaller the number of complements. Cthe higher the price. Dthe grater the fraction of income spent on it. 2If a raise in price from £1 to £1.10 caused supply to extend by 27%, price elasticity of supply would equal: A17 B1.7 C2.7 D3.7 3A trade union may try to rise the wages of its members by all of the followings except: AIncreasing their productivity. BThreatening strike actions. CIncreasing the supply of labour. DAccepting revised working practices. 4These can be issued by a public company Aordinary shares. Bloans stocks. Cbank loans. Dmortgages. 5These shares have special rights concerning the distribution of dividends ALoans stocks. BOrdinary shares. CPreference shares. DCommon stocks. 6The stock market is a market for: ANew issues of shares. BStocks of goods and services. CFinancial products. DNew and second-hand shares. 7Which of the following is a function of the Central Bank AMaking personal loans. BMaking mortgages. CSupervising the banking system. DProviding low-cost loans 8Which of these types of banks in a modern economy specialized in helping large business organization to fund their operations and expansion, helping them to issue and sell stocks and shares on the stock market. ASaving Banks. BCredit Unions. CInvestment Banks. DIslamic Banks. 9Which of these types of accounts is a safe place to store your savings and to earn interests. Acurrent account. Bsavings account. Cchecking account. Ddeposit account. 10A ………………, is repaid with interest over a fixed period, it is a short-term loan, up to 5 years A...commercial loan... B…personal loan… C…mortgage… D…overdraft… 11A shareholder is A any person or organization that is a part owner of a corporation’s stock B any person or organization that is a part owner of a limited private company. C any person or organization that owns a stock exchange. D any person or organization that owns treasury bonds. 12The management tier of the union trade with executive members elected by unions members to run the union nationally is a ABranch. BDistrict committee. CShop stewards. DNational Executive. 13Which one of these is NOT a function of Trade Unions? ASecuring improvements in member’s working conditions. BEncouraging firms to increase worker participation in business decision-making. CPromoting the distribution of dividends. Dimproving member pay and other benefits. 14Which of these types of Trade Union best describe the National Union of Mineworkers in South Africa (NUM)? AGeneral Union. BIndustrial Union. CCrafts Union. DProfessional associations. 15Which of the following is NOT a function of a commercial bank AMaking personal loans. BProviding financial advise. CProviding methods of payment. DIssuing notes and coins. If you answer all correctly I will ask another q, and choose you as best answer for nothing so you get 20 points. PLEASE

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26. Americans save money in all of the following ways EXCEPT A. buying luxury items on sale. B. investing in certificates of deposit. C. buying stocks D. buying bonds. 27. Bonds are A. a risky but potentially lucrative investment. B. forms of common stock. C. a relatively safe investment. D. also called certificates of deposit. 28. Money market funds A. do not guarantee a specified amount of interest. B. guarantee a specified amount of interest. C.buy stocks that most individuals could buy on their own. D.are insured by the Federal Deposit Insurance Corporation. 29Economic expansion requires capital for new factories, tools, and other goods. What is the source of that capital? A.the mint B.credit unions C. savings D.the government 30. Workers in the steel industry, who all have different jobs, want to form a union to which they can all belong. They form a(n) A. closed union. B. industrial union. C.craft union. D. trade union. Points Possible:1.00 31. The major purpose of unions is to A. help prevent disputes between labor and management. B. increase worker productivity. C.help workers bargain for better wages and working conditions. D.allow workers to control how businesses are run. 32. To combat strikers, employers in the past did all of the following EXCEPT A. hire private police. B. form organizations to oppose unions. C. blacklist workers active in unions. D. agree to featherbedding. 33. When the demand for goods and services increases, A. the economy is in a bust. B. costs of production are too high C. inflation results. D.the business cycle has reached a peak. 34. If the Fed is lowering the interest rates that banks pay it, the country A. is entering a boom. B. is entering a recession. C. is experiencing a rise in productivity. D.is experiencing high inflation. 35. The AFL-CIO is A. a closed-shop organization. B.the largest American labor group. C. in charge of every American labor union today. D.sponsored by the federal government 36. A high school graduate has $500. She wants to save this money in the least risky way. Thus she should avoid A. buying savings bonds. B. buying certificates of deposit. C. buying stocks. D. opening a credit union account. 37. Unions and employers reach nonbinding solutions to their differences through A. jurisdictional strikes. B.picketing. C. arbitration. D. mediation. 38. Wages, payments for raw materials, transportation, rent, and interest on borrowed money are A. means of production. B. costs of production. C. components of monetary policy. D. components of fiscal policy. 39. Workers at a local plant are dissatisfied with their working conditions, but they cannot walk off their jobs. The workers want to get management's attention by slowing down production, so they participate in a A.collective bargaining session. B. jurisdictional strike C. job action. D. mediated strike. 40. Employers faced with worker slowdowns sometimes initiated A. lockouts. B.collective bargaining. C. a job action. D. right-to-work laws. 41. There will probably continue to be a high demand for A.agricultural workers. B.machine operators. C. unskilled laborers. D.law enforcement officers. 42. Work opening up for women that was once done mostly by men is A. craft work. B. word processing. C.nursing. D. teaching. 43. A manager or executive who wishes to be self-employed may become A. independently wealthy. B.a member of a union. C. an independent contractor. D. lacking the education required by big businesses. 44. Hospitals and hotels are examples of businesses in the A. technical industry. B. administrative industry. C. service industry. D. none of the above 45. The country's largest employer is A. Microsoft. B. the U.S. army. C. the U.S. government. D. the United Nations. 46. All of the following people have to take civil service examinations EXCEPT A. postal carriers. B. national park rangers. C. electricians. D. FBI agents. 47. A young woman wants to pursue a career for which there will be a high demand. She consults reports from the Department of Labor, and decides to consider a career A. in the arts. B. in computers. C.as a farm manager. D. as an operator 48. The most important requirement for people working in crafts is A. a college education. B. a technical degree. C.manual ability. D. perceptual skills. 49. The demand for laborers will probably decrease due to A. a larger percentage of educated people in the workforce. B. automation.C. the laws of supply and demand. D. a smaller number of new businesses being created. 50. If the president hires foreign policy experts, they would be part of A.the United Nations. B.the Executive Office of the President. C.the Joint Chiefs of Staff. D.none of the above

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