(3 of 12)
4. Easing up on Regulation W, which restricts installment buying.
5. Stopping the sale of U.S. bonds to banks.
17. Chairman Edwin G. Nourse, of Council of Economic Advisers, in that the country is going through:
1. Deflation.
2. Further inflation.
3. Disinflation.
4. Adjustments to foreign markets.
5. The preliminary stages of a "crash."
18. The last great U.S. shortage which spring showed definite signs of coming to an end is in:
1. Aluminum. 4. Glass.
2. Cotton. 5. Nylon.
3. Steel.
19. When the reports on first-quarter were in, the outstanding fact that:
l. Earnings were off an average 18%.
2. Many companies showed profits even higher than in 1948's fat first quarter.
3. Most companies seemed to be just about holding their own, in comparison with 1948 figures.
4. Earnings averaged 25% higher on the whole than in 1948.
5. A few big companies like General Electric showed a sharp decline over the previous quarter.
20. Under fire in recent Congressional hearings have been the subsidies paid by the U.S. Government to:
1. Railroads.
2. Coal mine operators.
3. Steel producers.
4. Munitions manufacturers.
5. Commercial airlines.
21 . Warm weather did not bring the usual seasonal upswing this year in:
l. Construction.
2. Used auto sales.
3. Airline travel.
4. Gasoline.
5. Ice cream.
Here & There
22. Marking a big step toward civilian control in Germany was the replacement of General Clay by:
1. Adlai Stevenson.
2. John J. McCloy.
3. Robert Murphy.
4. Leon Henderson.
5. James A. Farley.
23. Vice President Barkley added a new word to the language when he told reporters that his family called him:
1. "Little Albie." 4. "Twoman."
2. "Veep." 5. "Subpres."
3. "Presup."
24. Called to Washington as "principal military adviser to the President" was college head:
1. Harold Stassen. 4. Dwight Eisenhower. 2. James B. Conant.
3. Karl Compton. 5. Ben Wood.
25. In midwinter a variation of the letter craze which swept the nation the:
1. Diamond Club. 4. Townsend Club.
2. Triangle Club. 5. Pyramid Club.
3. Double or Nothing Club.
INTERNATIONAL & FOREIGN NEWS
North Atlantic Treaty
26. Months of negotiation finally produced the North Atlantic Treaty, a defensive alliance which at the outset would include the U.S., Great Britain, and all but one of these:
1. France. 4. Benelux countries.
2. Spain. 5. Canada.
3. Norway.
27. Keynote of the treaty was the clause which declared that:
1. Armed assistance to a member nation attacked by an aggressor would be automatic.
2. An armed attack in Europe or North America against any signatory would be considered an attack against them all.
3. The spread of Communism would be checked, and freedom restored to the Soviet satellite states.
4. The use of military force against any signatory, even by a faction within the nation itself, would bring immediate assistance from other signatories.
5. The agreement was made