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Term1/18
In this department the Bureau of Economics provides an analysis of the nations economy including the GNP
Definition1/18

commerce

Term1/18
Why will producers and suppliers have a surplus of goods during a time of deflation
Definition1/18

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.

Term1/18
What term is used to describe the percentage that is taxed
Definition1/18

The percentage at which something is taxed is the Tax Rate.

Term1/18
This form of business organization is used by some professional workers like doctors and lawyers
Definition1/18

Partnership

Term1/18
This group helps the President prepare his annual Economic Report to Congress
Definition1/18

This group is known as the Council of Economic Advisors.

Term1/18
This department promotes American interests in foreign trade maintaining a network of offices that report on the business activity in foreign nations
Definition1/18

COMMERCE{:

Term1/18
Gross national product minus the capital consumed producing the GNP
Definition1/18

Net National Product

Term1/18
Only one person is liable if the business fails
Definition1/18

proprietorship

Term1/18
If supply exceeds demand for a product what economic explanation occurs
Definition1/18

prices decrease

Term1/18
A machine wearing out is an example of which of these
Definition1/18

capital consumption

Term1/18
Division of labor means that production takes place with workers separated into groups according to what
Definition1/18

skill

Term1/18
The factors of production are the beginning of the process that makes up the
Definition1/18

gross nationaly product

Term1/18
If an individual needs a loan for a new car what is the best policy
Definition1/18

DO COMPETIVE shoping amoung banks

Term1/18
Supply creates a demand
Definition1/18

False(Kaylop)

Term1/18
Is an organization that produces and distributes a good or service for profit called a business yes or no
Definition1/18

Yes

Term1/18
What federal department administers grants to states for highway construction through the federal highway administration
Definition1/18

The Department of Transportation, via the Federal Highway Administration

Term1/18
What are goods produced inside the US that are sold and shipped for use in other countries called
Definition1/18

Exports

Term1/18
Which of these terms could be associated with francois quesnay who studied the problems of agriculture and mercantilism
Definition1/18

physiocrat

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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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