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☆☆☆☆☆Cards in this guide (21)
In this department the Bureau of Economics provides an analysis of the nations economy including the GNP
commerce
This person wrote The Theory of the Leisure Class
Veblen!
In which country did Adam Smith live
Scotland
John Maynard Keynes applied his theories to the problems of what crisis
Great Depression
Why will producers and suppliers have a surplus of goods during a time of deflation
Because consumers have too little money.
This causes a knock down effect as the food will ultimately spoil if not consumed and if the food is simply "dumped" on the market to get rid of it this will drive the prices even lower.
In what type of production does a conveyor belt move and workers stay in one place
assembly line
Which of these statements represents what Thomas Malthus believed
The population would grow faster than the food supply.
Caveat emptor means that the producer will be protected against fraudulent business practices but must protect the consumer
false
Karl Marx would have agreed with Adam Smith
false
What is the period of time when the overall economic conditions are improving called
expansion
Which of these terms defines a time when there is an increase in money and a decrease in goods
Inflation
A machine wearing out is an example of which of these
capital consumption
Division of labor means that production takes place with workers separated into groups according to what
skill
Ongoing financial reports are usually calculated by an index in developing an index what is the most important thing to do
select a base year
Who was the leader of the AFL
Samuel Gompers
Supply creates a demand
False(Kaylop)
A pioneer in the automobile industry implemented the concept of what which was first introduced by Adam smith
A pioneer in the automobile industry implemented the concept of the laws of supply and demand that were first introduced by Adam Smith. That automobile industry pioneer was Henry Ford.
Whinch of these terms is included in the definition of commerce
construction of highways.
What are goods produced inside the US that are sold and shipped for use in other countries called
Exports
Are gross domestic product and net national product equal
(gross national product or GNP) minus depreciation = net national product
Which of thesse ideas can be demonstrated best by geometric progression
the population will exhaust the food supply
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