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Economics

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Angus Koepp

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Cards in this guide (20)
Technological advancements can improve productivity by doing which of the following

Developing machines that reduce the human effort needed to produce goods and services.

Economics is about allocating resources to produce and distribute which of the following

Goods and services

When the gross domestic product is neither growing nor shrinking a country's economy is doing what

Stagnating

Calculations of cost and benefit are always which of the following

Subjective

Which of the following best explains why the circular flow model characterizes the free-market system

Consumers and producers influence each other in a circular fashion.

The Gross Domestic Product goes down when which of the following occurs

Imports increase faster than exports.

What questions must be asked about the use of resources in an economic system

What is the most effective allocation?APEX!

What was the goal of nativists

To stop immigration =APEX

What are the key influences in your daily economic decisions

scarcity is basically the main thing that influences peoples decisions daily

What concept do economists use to measure the satisfaction a person gets from the use or consumption of goods and services

The concept of utility is a measure of consumer satisfaction.

Which of the following best explains why the game of economics does not have a signal goal

Evaluation

Which of the following is essential part of making rational choice

Doing cost-benefit analysis

How were slaves affected by the new republic

Some northern states made slavery against the law.

What was one argument against immigration

Immigrants used public services but didn't pay taxes.

Which of the following economic indicators would be most useful for figuring out whether the economy is growing quickly of slowly

gross domestic product

What is debit to equity ratio

Debt to equity ratio is a measurement criteria to measure how much debt is used in business as compare to owner's capital to finance the business.

What must be a feature of an activity for it to be a game

A set of rules

Which of the following is an example of a production decision ...

Science can be used to predict the effects of the dam on wildlife.

Which of the following is another term for a planned economy

socialist system

What following best defines e-commerce

Buying and selling online.

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