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Economics

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Jasen Runte

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โˆ™ 2021-10-31 18:34:17
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Cards in this guide (30)
What is Standard and Poors

Standard and Poors is one of the 3 premier Credit Rating Agencies in the world.

What is a trade-off

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

What signals do high prices send to producers and consumers

I asked this question why does nobody know this please help me ):<

How do economists measure consumption

The amount of a good that is brought

What is the difference between a shortage and scarcity

A shortage can be temporary or long-term, but scarcity always exists.

What happens when the supply of a nonperishable good is greater than the consumer wants to buy

Either the price drops until the consumers are prepared to buy more, or supplier are left holding surplus stocks until replacement purchases clear these inventories.

No manufactured good is truly non-perishable, and so will eventually require replacement.

What are limited quantities of resources to meet unlimited wants

Scarcity

Money that can be easily divided into smaller units of value has the characteristic of

BUTT

How are trade-offs and opportunity costs different

The trade-offs and opportunity costs are different from an economic standpoint in the sense that trade-offs are situations where you give up one thing in favor of another.

Who issues US paper currency

Today all US paper money is issued under the authority of the Federal Reserve System, which is the US central bank. The Federal Reserve System operates 12 regional district banks, each of which is responsible for providing currency to private banks in its region, among many other economic duties.

As economic demand warrants, each district requests bills for its operations. The district banks don't actually print the money though - all bills are printed by the Bureau of Engraving and Printing at facilities in Washington and Fort Worth. Bills are then shipped to the district bank which distributes them to the rest of the banking system.

If you look at a bill you can tell which district ordered and distributed it. Each district has an identifying letter and number. For example, Boston is A/1, New York is B/2, Dallas is K/11, etc. $1 and $2 bills have the district letter in a circular seal and as the first character in the serial number; the district number is printed in each corner of the white area of the bill. On higher-value bills the letter is the second character of the serial number, and the letter and district number are repeated in one corner of the open area of the design.

What about the Mint?A lot of people believe that the US Mint makes paper money but that's not true. The Mint only makes coins. It's completely separate from the BEP.
Why do economist regard imperfect competition as undesirable

Imperfect competition is viewed by economists as undesirable because it is thought it places unnecessary and unwelcome constraints on the natural economic forces. An example of imperfect competition is a monopoly.

What is the income people receive for supplying factors of production such as land labor or capital called

They are called factor payments.

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

How does a pension fund act as an investor

the company invests money collected from employers

Government programs that protect people experiencing unfavorable economic conditions are

Safety Net!

The physical capital used by a woodworker to make furniture would include

saws and drills

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

Customs and traditions.

What is an unitary elastic supply

A unitary-elastic supply indicates a good with a supply-price elasticity of one, which means that a 1% change in price increases supply by 1%.

What was the connection between the Three-Fifths Compromise and taxes

3/5s of all slaves were counted to figure out how much states owed the federal government in taxes

What is an example of scarcity rather than shortage

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

When you own a mutual fund what exactly do you own

Mutual fund is a low risk investment. If you invest in a mutual fund, you owns shares of the mutual fund company who is selling you fund. But you do not actually own any underlying asset of the stocks or securities that mutual fund has invested in even they are using your money to invest.

Which of the following is the situation that makes the market behave inefficiently

Its when consumers do not have enough info to make good choices .....:) hope this helps!

Which of the following is most important characteristic of an entrepreneur

hard work and patience

Which is the government agency that covers customer deposits if a bank fails

Federeal Deposit Insurance Corporation (FDIC)

How do price changes affect equilibrium

Price changes affect the equilibrium price and quantity by Serving as a tool for distributing goods and services.

What kind of decision cannot be made at the margin

whether to spend your two-week vacation on the shore or in town

Objects that have value in themselves and that are also used as money is the definition for

Objects that have value in themselves and are also used as money are referred to as commodity money.

After the Civil War the National Banking Acts gave the federal government the power to do all of the following except

insure banks against failure

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.

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