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Economics

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Caroline Cronin

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Cards in this guide (21)
Where does the government get money from

the government gets money from the taxes people pay TAXES

Name three new business practices of global trade

Global trade involves business practices that cross international borders. Modern business practices may include multiple locations being used as well as telecommunication via teleconferencing.

What kind of loans does the World Bank make

The world bank lends money to memeber nation so that they could be carry out the work of public importance and usefulness.

What do banking regulations prohibit

Money laundering

What would be an example of a land-use law

A town zones an area for residential buildings only. This is an example of a land use law.

Environmental-protection laws can be bad for the economy because they may do what

Environmental-protection laws can be bad for the economy because they may increase unemployment.

What does increasing consumer confidence do

Increases purchases from producers

How can a country respond to a trade embargo

By seeking other trading partners

it could pursue a policy of national self-sufficiency

What limits specialization in the global economy

Trade barriers.

When might a country specialize in producing a particular good

When a country has an absolute advantage in production of that good it may specialize in producing that good.

What does predatory pricing involve

A large company charging below its production cost in order to eliminate competition

What is the justification of the progressive taxation method

The idea that taxation should be based on the ability-to-pay principle

What is an example of trade restriction

Tariffs and embargos are trade restrictions.

Match each type of tax with an example of its use apex

Though answer choices weren't listed I found an example. Sin tax would be 10 percent on gambling winnings. Income tax would be 20 percent tax on wages that are earned. Excise tax would be thirty cent tax on a gallon of gasoline. Consumption tax would be 9 percent tax on the sale of luxuries.

What's 5 percent charged on profits from selling stocks

Capital gains tax

Which of these is not an example of a trade restriction A Tariffs B Quotas C Rationing D Subsidies

for a similar question:

taking land to build an airport

Match each type of good below with an example of that type of good.

merit good-education

public good-school buildings

individual good-textbooks

What is an example of a labor law in economics

A restriction on when a union may call a strike

Match each organization with its correct relationship to the government

A. Social security _ government agency

B. U.S. Postal Service _ government corporation

C. Boeing _ government contractor

Order to make up for a budget deficit the government can do what (Apex)

Issue bonds

Match each organization with the correct labels (apex)

Organization of Petroleum Exporting Countries competition regulator

Lockheed Martin Corporation government contractor

Antitrust Division of the Department of Justice cartel

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