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☆☆☆☆☆Cards in this guide (16)
Which of the following most accurately explain why commodity money has value
Commodity money is a good that can be used as a medium of exchange or for some other purpose.
Which governmental organization currently serves as the central bank of the US
sloppy but crack
What do board members of the Federal Reserve obtain their positions
They are appointed by the president and confirmed by the Senate.
What form of money has value only because the government says it does
representative money (A+)
-Emmy aka Hello Kitty
Fiat Money (A+)
-Hailey
Which factor of production is used by manufacturing firms for a physical location
land
Which economic theorists believed that overpopulation would cause labor to overwork the land
Thomas Robert Malthus believed that overpopulation would cause labor to overwork the land.
What is the purpose of antitrust laws and regulations
Ensure markets operate competitively.
Who oversees the operations of the Federal Reserve
board of directors
Which type of corporations are those owned by stockholders
private corporations
How are net exports calculated
by subtracting a country's imports by the exports
Which of these is not a benefit of using an assembly line to produce goods
it allows workers to only learn one task A+
What of these will happen if a country imports less than it exports
Net exports will be positive and will add to the calculation of GDP.
Which level of government is income tax imposed
Federal and State
Why were Quesnay's theories were based on a simple model of the economy which consisted of which classes
Landowners, Farmers, Businessmen and Craftsmen.
How long did the charter for the First Bank of the United states last
20 years
A firm is dependent on which of these to help it make decisions about production
consumer taste
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