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Leone Cormier

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Cards in this guide (23)
What is a strong durable rubber

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

Economic policy by which the government minimizes its regulation of industry

laissez-faire laissez-faire

What problem does tight money policy combat

tight money policy combats inflation (when to much money is out in circulation the Fed limits the amount of money that is in Circulation known as the tight money policy.)

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.

What is one service the fed performs for the treasury department

It processes payments, such as Social Security checks.

Is a haircut an example of a final good or service

Yes

Why doesn't the government try to end seasonal unemployment

The government doesn't try to end seasonal unemployment because the jobs are needed. The seasonal peoples employees pay unemployment taxes the same as any other business. The workers should get unemployment just like any one else.

What are the components of business cycle

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

What terms relates to money and banking

monetary policy
monetary policy

A+

What change in monetary policy could eventually cause overborrowing and overinvestment

a decrease in the money supply

What cause the inflation rate to spike up sharply

prices on world oil markets rise steely due to war in the middle east

Why is the monetary policy administered by the federal reserve the principal method of softening the effects of the business cycle

Because there are more political complications with determining and implementing fiscal policy.

What is the annual income earned by US owned firms and US citizens referred to as

Gross National Product

What must buyers and sellers have access to for a perfect competitive market to function properly

To buy and sell freely. It is also assumed that they their capabilities are symmetric and their preferences are convex.

In calculating the unemployment rate ''discouraged'' workers who are not actively seeking employment are

Excluded.

What is GDP expressed in constant or unchanging prices called

real GDP

Truth in lending laws require

sellers provide full and accurate information about loan terms

Globalization the development of new technology changes in consumer demand and the discovery of new resources are all causes of

structural unemployment

Julia invested 3000 at an annual interest rate of 5 percent from last year to this year there has been a 4 percent inflation rate after a year the purchasing power of her investment

rose by 1 percent

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

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