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Economics

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Demond Stroman

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2y ago
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Cards in this guide (13)
What is a trade-off

A trade-off is an alternative that we sacrifice when we make a decision.

How can population changes affect demand for certain goods

immediate demand for a good will go up if it's price is expected to rise.

this is how population changes affect demand for certain goods.

What is the effect of the interaction of buyers and sellers on a market

agreement on the price and quantity traded

Government programs that protect people experiencing unfavorable economic conditions are

Safety Net!

In a traditional economy what are the economic decisions based largely on

Customs and traditions.

What is an example of scarcity rather than shortage

A person wants an endless supply of everything but cannot have it.

An order the president gives based on the authority of the constitution is called

An executive order

Which of the following is most important characteristic of an entrepreneur

hard work and patience

What does it mean that the vice president is ''only a heartbeat away'' from the presidency

People say that the Vice President is "only a heartbeat away" from the presidency because the vice president is first in the order of succession. If the President's heart should stop beating, the Vice President takes over the office.
If the president dies or otherwise become incapacitated, the vice-president becomes president.

What is the money multiplier formula

The money multiplier formula is the amount of new money that will be created with each demand deposit, calculated as 1 ÷ RRR.

The framers hoped that people chosen to serve as presidential electors would be

Informed Citizens

Through the years several plans have been suggested to do what

have the president appointed by the senate. (grad point)

When After a bill is introduced in the House and numbered what is the next step

It goes to Committee.

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