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Economics

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Aryanna Cummings

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Cards in this guide (24)
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 is one effect of a price floor

A surplus of supply

What do banking regulations prohibit

Money laundering

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.

Which is true about tariffs

They are paid on international trade only.

Sort the statements below into the correct order in which the federal budget is prepared

The president gives a proposed budget to Congress.

Congress decides on the details of the budget.

The president signs spending bills into law.

.

The Office of Management and Budget (OMB) and the president prepare a proposed budget.

Congress decides on the overall level of spending and taxation and passes specific spending bills.

The president signs various spending bills into law.

What does increasing consumer confidence do

Increases purchases from producers

How do central banks impact the global economy

They influence the national money supply,which affects the volume of international trade.

Politicians approve pork barrel spending for what purpose

To win political support

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 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.

If developing countries have weak domestic industries they do not benefit from what

Free-trade policies

Which of these results from greater capital mobility

Increased foreign investment.

What is gross income minus any adjustments deductions and exemptions

taxable income :)

Government contractors can be described as which of the following

Private sector companies

What is an example of a labor law in economics

A restriction on when a union may call a strike

How does globalization hurt the United States economy

by bringing wage reductions

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 type of unfair business practice with its description (apex)

1.Vendor lock in: a company say a wide range of product can be used with its products but this is not true.

  1. Price fixing: a group of companies agree that all of them will charge the same price.

3.Predatory pricing: a large company charges a price below production cost in order to eliminate small competitors.

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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