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Economics

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Tiana VonRueden

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Cards in this guide (15)
What is a strong durable rubber

a goodyear vulcanized tire is a good example of a durable rubber

How did the existence of the baby boom generation change demand in the US

demand was raised for different goods with each age of the baby boomers reached.

What is deciding whether to do or use one additional unit of some resource

Thinking at the margin... i think

List two forms that technological advancement can take and give an example of each form

Technological advancement can be seen as progress within society. For example, people living better is progress. Another way you can see technological advancement is through the use of advanced devices.

Which product would be likely to be bought in the same quantity even if it doubled in price

Salt

What are the components of business cycle

The components of the business cycle is Prosperity, Recession, and depression.

What is an example of scarcity rather than shortage

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

What change in monetary policy could eventually cause overborrowing and overinvestment

a decrease in the money supply

Should all college students be required to study abroad for a semester

Type

The term normal goods refers to what kind of goods

Goods that consumers demand more of when their incomes increase

Which of the following statements concerning price indexes is not accurate

A Price indexes assist the government in making policy decisions

B Price indexes produce an average of prices that economists can compare to earlier averages

C Price indexes assist consumers and businesses in making economic decisions

D price indexes define the cost of goods in the entire economy at a given point in time

In drunken driving cases the police must conduct tests on suspects

fair and safe

Why would you want to create a bar graph from a budget spreadsheet

to see where most of your money is going

Antitrust laws allow the U.S. government to do all of the following except .

stop firms from selling new products

As the price of a slice of pizza increases would most likely happens to the quantity demand it

Ashley will buy two fewer slices of pizza.

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