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
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
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
What is GDP expressed in constant or unchanging prices called
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
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
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
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