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Economics

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Daphne Bergstrom

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Term1/22
In both the socialist and communist systems the government will have a large influence on the economy
Definition1/22

True

Term1/22
In this form of government there is rule by only one person
Definition1/22

absolute monarchy

> <

Term1/22
Since the 1980s what has happened to the US share of domestic car sales
Definition1/22

declined

Term1/22
Under what heading did the social programs of the 1930s come
Definition1/22

new deal

Term1/22
During this event a country stops all trade with another country
Definition1/22

Embargo.

Term1/22
What type of economic and political system exists where all resources and production are owned collectively by all
Definition1/22

Socialism
socialism(Kaylop)

Term1/22
Which of these agencies is health insurance program for most elderly persons
Definition1/22

medicare

Term1/22
Caveat emptor means that the producer will be protected against fraudulent business practices but must protect the consumer
Definition1/22

false

Term1/22
Social security payments may be paid to dependent surviving children until they are 18
Definition1/22

Social security payments may be made to dependent children until they are 18.

true

Term1/22
A program called the new deal was put into effect in which year
Definition1/22

1932

Term1/22
The growth of technology has had little effect on the amount of goods and services produced in other countries
Definition1/22

False

Term1/22
What is the period of time when the overall economic conditions are improving called
Definition1/22

expansion

Term1/22
All policies that impede the flow of goods from one country to another are eliminated
Definition1/22

Free trade involves eliminating policies that impede the flow of goods from one country to another. These ambitions have been met with much opposition and support.

Term1/22
What type of economy is it where all economic decisions are based on age-old customs
Definition1/22

A traditional economy is where all economic decisions are based on age-old customs.

Term1/22
Under which of these were dams built where they were needed to provide electric power to urban and rural areas
Definition1/22

Tennessee Valley Authority

Term1/22
For almost every right a citizen has
Definition1/22

For almost every right a citizen has, there is a corresponding responsibility.

Term1/22
Who was the leader of the AFL
Definition1/22

Samuel Gompers

Term1/22
What term refers to the situation that results when a country imports more goods than it exports
Definition1/22

trade deficit

Term1/22
Which of these means spending beyond the amount of money one has available
Definition1/22

conspicuous consumption

Term1/22
To which time period does the word contemporary refer
Definition1/22

present

Term1/22
Under which president did ben bernanke assume the role of chairman of the federal reserve system
Definition1/22

Ben Bernanke was appointed Chairman of the Federal Reserve Sytem on February 1, 2006 by George W. Bush.

Term1/22
The basic problems of scarcity and allocation of limited resources are solved by production for use or need rather than production for profit.
Definition1/22

Socialism (A+)

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Cards in this guide (22)
In both the socialist and communist systems the government will have a large influence on the economy

True

In this form of government there is rule by only one person

absolute monarchy

> <

Since the 1980s what has happened to the US share of domestic car sales

declined

Under what heading did the social programs of the 1930s come

new deal

During this event a country stops all trade with another country

Embargo.

What type of economic and political system exists where all resources and production are owned collectively by all

Socialism
socialism(Kaylop)

Which of these agencies is health insurance program for most elderly persons

medicare

Caveat emptor means that the producer will be protected against fraudulent business practices but must protect the consumer

false

Social security payments may be paid to dependent surviving children until they are 18

Social security payments may be made to dependent children until they are 18.

true

A program called the new deal was put into effect in which year

1932

The growth of technology has had little effect on the amount of goods and services produced in other countries

False

What is the period of time when the overall economic conditions are improving called

expansion

All policies that impede the flow of goods from one country to another are eliminated

Free trade involves eliminating policies that impede the flow of goods from one country to another. These ambitions have been met with much opposition and support.

What type of economy is it where all economic decisions are based on age-old customs

A traditional economy is where all economic decisions are based on age-old customs.

Under which of these were dams built where they were needed to provide electric power to urban and rural areas

Tennessee Valley Authority

For almost every right a citizen has

For almost every right a citizen has, there is a corresponding responsibility.

Who was the leader of the AFL

Samuel Gompers

What term refers to the situation that results when a country imports more goods than it exports

trade deficit

Which of these means spending beyond the amount of money one has available

conspicuous consumption

To which time period does the word contemporary refer

present

Under which president did ben bernanke assume the role of chairman of the federal reserve system

Ben Bernanke was appointed Chairman of the Federal Reserve Sytem on February 1, 2006 by George W. Bush.

The basic problems of scarcity and allocation of limited resources are solved by production for use or need rather than production for profit.

Socialism (A+)

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