Cards in this guide (22)
Why does globalization lead to a reduction in wages in developed countries
Increased mobility allows producers to move jobs to lower-cost
labor markets.
Economics is about allocating resources for doing which of the following processes involving goods and services
Production and distribution
Which of the following actions best meets the goal of security
Wearing a seatbelt while riding in a car.
Which of the following best explains why the game of economics cannot eliminate scarcity
There are not enough resources to produce all of the goods and
services that everyone wants.
Which of the following describes a situation where the goal of security is being pursued
The government establishes a retirement program for its
citizens.
Which of the following best explains why the circular flow model characterizes the free-market system
Consumers and producers influence each other in a circular
fashion.
A mixed economy is a combination of which of the following economic systems
Which of the following best explains why minimizing costs is a rational way to make decisions
Paying a cost means doing without something good or accepting something bad
Paying a cost means doing without something good or accepting something bad.
Under a fractional reserve banking system the amount of money loaned out can only increase if what happens
The required reserve ratio is lowered.
Which is not a policy tool used by the Fed
In the game of economics workers play a double role functioning as both consumers and
In the game of economics, workers play a double role, functioning as both consumers and producers
Consumers and producers
What is a socialist country in which the government owns health care and communications
The Socialist Republic of Vietnam.
Must What must an activity have in order to be considered a game
A set of rules
One or more players
Because calculations of cost and benefit are subjective they can be described as
Vary from one person to another.
What are the key influences in your daily economic decisions
scarcity is basically the main thing that influences peoples
decisions daily
Which of the following best explains why the game of economics does not have a signal goal
Does globalization cause poverty
Globalization does not cause poverty, on the other hand,
globalization lifted many people out of poverty and created a solid
middle class in many developing countries. India and China are
example. Globalization may have caused financial hardship for many
westerners since many jobs were shipped overseas because of cheap
labor.
What is the benefit of greater organization
Which is most likely to lead to a decrease in the price of a companys stock
What must be a feature of an activity for it to be a game
The need to get goods from producers to consumers raises what basic questions
How are goods and services distributed
Which of the following is an example of a production decision ...
Science can be used to predict the effects of the dam on wildlife.
