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Economics

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Hyman Stokes

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Cards in this guide (16)
What describes a situation in which the price of a good would fall

the community is crazy

When consumers get more money they tend to substitute normal goods for what goods

When consumers get more money, they tend to substitute normal goods for _inferior_ goods.

Why do people gamble online

People chose to gamble online for various reasons:

  • They do not live near a casino
  • They do not like crowds of people
  • They do not like the smoke
  • The legal age to gamble online is 18+
  • Some land based casinos require you to be 21+
  • An online casino may have an attractive bonus
What describes the difference between individual and public goods

People cannot be excluded from using goods while they can be excluded from using individual goods.

Monetary policy in the US is carried out primarily by what agencies

The Federal Reserve Bank

Which of the following is the best example of a substitution

People at the movie theater switch from popcorn to candy because popcorn has gotten too expensive.

Best explains the purpose of protectionist trade policies such as tariffs and subsidies

nnnnnnnn

Which of the following is another term for market clearing price

equilibrium price

What describes the situation that occurs when the equilibrum quantity has been reached

There is no surplus or shortage.

What is the following situations would the price of a good be most likely to decrease Apex

The development of a new energy source reduces production costs for a company.

Which of he following is an advantage of a partnership

Specialization. A+

What Of The Following is an essential part of making a rational choice

doing cost benefit analysis

Which of the following accurately describes the effect of a situation of scarcity

Jjj

Best explains the purpose of a demand schedule

To show the level of demand at various prices

What if the following describes a situation in which there would be a decreasing marginal utility

Buying a second winter coat.

Which of the following is an example of expansionary fiscal policy

cutting taxes

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