Cards in this guide (17)
Which of the following is one of the major factors determining the level of wages
The Law of Supply and Demand.
Which of the following best explains how trade enables greater specialization among producers
trade allows people to focus on one kind of production and trade
for their other needs.
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.
An increase in the standard of living results from an increase in what
an increase in standard of living comes from increase in income. An increase in national income will increase the standard of living of the people of that nation.
Income
Which of the following best explains why buying a single family home in a city is a good investment
Housing prices in cities generally increase more quickly than
anywhere else.
Which best explains why large companies pay less for goods from wholesalers
Large companies can buy all or most of a wholesaler's stock.
Best explains the purpose of protectionist trade policies such as tariffs and subsidies
Which is the following limits the freedom of both employers and workers in the labor market
The existence of a minimum wage.
Which of the followiwng is a charcteristic of the factors of production
which of the following is a characteristic of the factors of
production
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.
Because immigration can result in an increase in the supply of labor what can immigration result to
A general decrease in wages. - Apex
Which of he following is an advantage of a partnership
Which of the following accurately describes the effect of a situation of scarcity
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
Which of the following is an example of monetary policy
The government restricts the amount of money that banks can lend.
Match each organization with its correct relationship to the government
A. Social security _ government agency
B. U.S. Postal Service _ government corporation
C. Boeing _ government contractor