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☆☆☆☆☆Cards in this guide (18)
In this department the Bureau of Economics provides an analysis of the nations economy including the GNP
commerce
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.
What term is used to describe the percentage that is taxed
The percentage at which something is taxed is the Tax Rate.
This form of business organization is used by some professional workers like doctors and lawyers
Partnership
This group helps the President prepare his annual Economic Report to Congress
This group is known as the Council of Economic Advisors.
This department promotes American interests in foreign trade maintaining a network of offices that report on the business activity in foreign nations
COMMERCE{:
Gross national product minus the capital consumed producing the GNP
Net National Product
Only one person is liable if the business fails
proprietorship
If supply exceeds demand for a product what economic explanation occurs
prices decrease
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
The factors of production are the beginning of the process that makes up the
gross nationaly product
If an individual needs a loan for a new car what is the best policy
DO COMPETIVE shoping amoung banks
Supply creates a demand
False(Kaylop)
Is an organization that produces and distributes a good or service for profit called a business yes or no
Yes
What federal department administers grants to states for highway construction through the federal highway administration
The Department of Transportation, via the Federal Highway Administration
What are goods produced inside the US that are sold and shipped for use in other countries called
Exports
Which of these terms could be associated with francois quesnay who studied the problems of agriculture and mercantilism
physiocrat
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