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☆☆☆☆☆Cards in this guide (15)
What is demand-pull inflation
when prices of goods increase due to demand is called demand pull inflation
Which is an example of a government policy that protects domestic producers against international competition
Subsidies
What best explains why a large company can undersell small retailers
Large companies can negotiate better prices with wholesalers.
When either prices go down what is there an increase in
the standard of living
Which of the following is one ofthe main causes of inflation
which of the following is one of the main causes of inflation Consumers demand good faster than they can be supplied
What best states the purpose of an import quota
To reduce competition from foreign producers.
What accurately describes a situation in which consumers have inelastic demand
People cannot quit drinking coffee even though they want to cut down on caffeine intake.
How were slaves affected by the new republic
Some northern states made slavery against the law.
Which of the following is one result of the international trade
creats new market -apex :)
Which is the following limits the freedom of both employers and workers in the labor market
The existence of a minimum wage.
What are needed to determine the equilibrium price of a good or service
Consumers have inelastic demand
Which of the following accurately describes the effect of a situation of scarcity
Jjj
Which of the following best explains why large companies have an advantage over smallercompanies
Economics of scale make it possible to offer lower 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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