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Economics

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Quinton Schimmel

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Cards in this guide (14)
What are some problems caused by globalization

globalization is happening because of worldwide trade and exchange between countries.

This man is responsible for changing classical thinking in the twentieth century

keynes

The difference between what the workers produce and what they earn is surplus value

Surplus value is the difference between the value that workers produce and what they are paid in wages.

What labor work thingsof nature into tangible products what are the products called

goods

What is money called when it is accepted for goods and services

A medium of exchange

Which of these is not included in the study of microeconomics

effects of trade and the gross demestic product

Which division of the Department of Housing and Urban Development is also known as Section 32 housing and assists low income families with the purchase of homes

Public Housing Home Ownership Program is the division of the Department of Housing and Urban Development and is known as section 32 housing and assists low income families with the purchase of homes.

Why did the strong approach of King George III anger many colonists

they were expecting a reward for participating in the French and Indian War.

To which principle does circular flow refer

The circular flow refers to a simple economic model which describes the reciprocal circulation of income between the consumers and producers.

Thanks

Which of these books outlined how the American economy would be managed by big business big labor and government in the future

American Capitalism (A+ answer)

Which point in the business cycle has the greatest economic activity

Peak a+

In the circular model how are households compensated by firms for the factors of production they provide

With wages, rent and dividends.

Which of these describes the economic theory of laissez-faire

An economic system should be driven by free market forces, not government intervention. A+

Which of these does not describe a weak economy

The government will assume a contractionary fiscal policy position.

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