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Economics

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Otis Steuber

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Term1/20
What is the purpose of a price ceiling
Definition1/20

A price ceiling protects the poorest consumers by keeping goods affordable.

Term1/20
Compulsory education restricts whose freedom
Definition1/20

parents

Term1/20
When the government runs a budget deficit what must it eventually do in order to pay back its debt
Definition1/20

Have a budget surplus

Term1/20
Freedom of expression is limited by what
Definition1/20

one of the circumstances for freedom of expression is censorship.

Term1/20
What is one effect of a price floor
Definition1/20

A surplus of supply

Term1/20
Which of these is a group of producers working together to raise prices and increase profits
Definition1/20

cartel

Term1/20
What happens to the expenses involved in compliance with government regulations
Definition1/20

passed on to the consumer

Term1/20
What is the purpose of labor laws
Definition1/20

To protect workers

Term1/20
What is one economic effect of environmental-protection laws
Definition1/20

Higher prices for consumers--APEX

Natural resources necessary for production are safeguarded.

Term1/20
What is one drawback to consumer-protection regulations
Definition1/20

Higher costs for production, leading to higher consumer prices.

Term1/20
What does increasing consumer confidence do
Definition1/20

Increases purchases from producers

Term1/20
The government can prevent the shortages that accompany price ceilings by doing what
Definition1/20

Rationing

Term1/20
What is an example of trade restriction
Definition1/20

Tariffs and embargos are trade restrictions.

Term1/20
What's 5 percent charged on profits from selling stocks
Definition1/20

Capital gains tax

Term1/20
Which of these is not an example of a trade restriction A Tariffs B Quotas C Rationing D Subsidies
Definition1/20

Rationing is not an example of a trade restriction.

Term1/20
What effect do consumer - protection regulations have on the circular flow of the free market system
Definition1/20

R

Term1/20
What is largest difference between developed and developing countries
Definition1/20

the level of wealth

Term1/20
What is an example of a labor law in economics
Definition1/20

A restriction on when a union may call a strike

Term1/20
Order to make up for a budget deficit the government can do what (Apex)
Definition1/20

Issue bonds

Term1/20
Match each organization with the correct labels (apex)
Definition1/20

Organization of Petroleum Exporting Countries competition regulator

Lockheed Martin Corporation government contractor

Antitrust Division of the Department of Justice cartel

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Cards in this guide (20)
What is the purpose of a price ceiling

A price ceiling protects the poorest consumers by keeping goods affordable.

Compulsory education restricts whose freedom

parents

When the government runs a budget deficit what must it eventually do in order to pay back its debt

Have a budget surplus

Freedom of expression is limited by what

one of the circumstances for freedom of expression is censorship.

What is one effect of a price floor

A surplus of supply

Which of these is a group of producers working together to raise prices and increase profits

cartel

What happens to the expenses involved in compliance with government regulations

passed on to the consumer

What is the purpose of labor laws

To protect workers

What is one economic effect of environmental-protection laws

Higher prices for consumers--APEX

Natural resources necessary for production are safeguarded.

What is one drawback to consumer-protection regulations

Higher costs for production, leading to higher consumer prices.

What does increasing consumer confidence do

Increases purchases from producers

The government can prevent the shortages that accompany price ceilings by doing what

Rationing

What is an example of trade restriction

Tariffs and embargos are trade restrictions.

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

Rationing is not an example of a trade restriction.

What effect do consumer - protection regulations have on the circular flow of the free market system

R

What is largest difference between developed and developing countries

the level of wealth

What is an example of a labor law in economics

A restriction on when a union may call a strike

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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