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☆☆☆☆☆Cards in this guide (17)
Can merchant charge fees on credit card
They are not supposed to, but, they pass along any fee charged to them by the bank/cc comapny to the consumer.
What best describes the organization of labor and capital
production
What is Circular flow of income model withdrawal from the circular flow
Taxation
Imports
Savings
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.
What do board members of the Federal Reserve obtain their positions
They are appointed by the president and confirmed by the Senate.
What is money called when it is accepted for goods and services
A medium of exchange
What are the main sources of capital for the national state and local governments
taxes
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.
Which of these methods calculates the market value of all final goods and services produced within a country's borders in a given year
Gross Domestic Product
Which of these would not be included as government spending when calculating the GDP
unemployment benefits A+
Which of these is the correct formula for calculating the GDP
C + i + g + n = gdp
If money supply growth exceeds the growth of the overall economy what will be the result
inflation
What describes the private investment component of the GDP
the sum of all non-financial business investments
Which of these is not a service provided by the government using revenue from taxes
Private Schools (A+)
Which term refers to any item of economic value owned by a corporation
assets
The nation's economic health is currently calculated by using what
Gross Domestic Product
Which form of exchange is used in simple societies and does not involve money
Barter
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