To allow consumers and producers to make their own decisions
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Term1/11
How does the assembly line benefit the economy
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Definition1/11
helped meet supply and demeand faster It increases
productivity
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Term1/11
When does Country X have an absolute advantage over Country Y in the production of corn
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Definition1/11
Country X can grow corn more cheaply than Country Y.
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Term1/11
Consumers use cost-benefit analysis in order to maximize what
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Definition1/11
Consumers use cost-benefit analysis in order to maximize
utility.
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Term1/11
Economic decisions involve doing what with resources to produce goods and services for people to consume
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Definition1/11
Allocating
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Term1/11
Which is not a policy tool used by the Fed
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Definition1/11
Making tax cuts
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Term1/11
The government sets a price floor in order to protect what
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Definition1/11
A vulnerable industry
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Term1/11
What is the purpose of the required reserve ratio
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Definition1/11
. To make sure banks have enough money on hand to meet
customers' withdrawal requests
This is incorrect. Fractional Reserve Banking is the Instrument
by which Banks lend money against your signature and only need 10%
of the funds on hand to do so. They create 90% of the funds out of
thin air. It is virtually legalized counterfeiting. Then they have
the nerve to charge you interest on this money they created from
nothing. Anybody who accepts this as a good idea is insane. If you
don't believe me there are many you tube videos on the subject. An
excellent place to start is "The Four Horsemen" featuring testimony
from people such as the ex chief economist from the World Bank.
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Term1/11
Which of these is most likely to lead to a decrease in the price of a good
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Definition1/11
Demand decreases and supply remains the same would lead to a
decrease in the price of a good.
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Term1/11
What is a not a way the fed can generate an increase in the money supply
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Definition1/11
Cutting taxes
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Term1/11
Which of the following promotes greater efficiency and lower prices by protecting competition
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Definition1/11
antitrust laws -apex :)
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Cards in this guide (11)
What is the purpose of a free-market system
To allow consumers and producers to make their own decisions
How does the assembly line benefit the economy
helped meet supply and demeand faster It increases
productivity
When does Country X have an absolute advantage over Country Y in the production of corn
Country X can grow corn more cheaply than Country Y.
Consumers use cost-benefit analysis in order to maximize what
Consumers use cost-benefit analysis in order to maximize
utility.
Economic decisions involve doing what with resources to produce goods and services for people to consume
Allocating
Which is not a policy tool used by the Fed
Making tax cuts
The government sets a price floor in order to protect what
A vulnerable industry
What is the purpose of the required reserve ratio
. To make sure banks have enough money on hand to meet
customers' withdrawal requests
This is incorrect. Fractional Reserve Banking is the Instrument
by which Banks lend money against your signature and only need 10%
of the funds on hand to do so. They create 90% of the funds out of
thin air. It is virtually legalized counterfeiting. Then they have
the nerve to charge you interest on this money they created from
nothing. Anybody who accepts this as a good idea is insane. If you
don't believe me there are many you tube videos on the subject. An
excellent place to start is "The Four Horsemen" featuring testimony
from people such as the ex chief economist from the World Bank.
Which of these is most likely to lead to a decrease in the price of a good
Demand decreases and supply remains the same would lead to a
decrease in the price of a good.
What is a not a way the fed can generate an increase in the money supply
Cutting taxes
Which of the following promotes greater efficiency and lower prices by protecting competition