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☆☆☆☆☆Cards in this guide (12)
When the gross domestic product is neither growing nor shrinking a country's economy is doing what
Stagnating
Calculations of cost and benefit are always which of the following
Subjective
Which of the following best explains why the circular flow model characterizes the free-market system
Consumers and producers influence each other in a circular fashion.
The Gross Domestic Product goes down when which of the following occurs
Imports increase faster than exports.
What questions must be asked about the use of resources in an economic system
What is the most effective allocation?APEX!
Which of the following best explains why the game of economics does not have a signal goal
Evaluation
Which best explains why resources need to allocated in the game of economics
Resources must be allocated because there are not enough resources to produce all of the goods and services that everyone wants.
Which of the following economic indicators would be most useful for figuring out whether the economy is growing quickly of slowly
gross domestic product
Which can best explains why some economic goals are incompatible with each other
People are often in conflict over what they want.
Which of the following is an example of a production decision ...
Science can be used to predict the effects of the dam on wildlife.
Economics is about doing with the resources when it comes to the production and distribution of goods and services
Allocating Apex
Which if the following is not a goal pursued in the game of economics
Stagnation
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