answersLogoWhite

0

Economics

User Avatar

Jonathon Willms

Lvl 10
∙ 3y ago
☆★☆★☆★☆★☆★
No Reviews
Leave the first rating

Rate this Study Guide:

☆★☆★☆★☆★☆★
Cards in this guide (18)
Whose theory of economics believed in a hands-off approach with respect to the government's involvement in the economy

adam smith

What labor work thingsof nature into tangible products what are the products called

goods

Who is best known for his trilogy of books on economics that guided the direction of the American economy

john kenneth galbraith

Who is responsible for the law of diminishing returns

Thomas Malthus

Which land deal had the best price per square mile for the US

The Alaska Purchase of 1867

The United States purchased Alaska from Russia for $7.2 million, which came to about 2 cents per acre. In 2010 dollars, that's equivalent to a little over $100 million, or about 30 cents per acre.

What might be one problem associated with a trade deficit

countries must borrow money to pay for their imports. -- A+

Who theorized the economic system of socialism

Karl Marx

Which term refers to the cost a firm incurs for capital goods

interest

What was granted to the united states in the treaty of paris in 1763

Owing to the terms of the treaty, France gave all its territories in mainland North America.

What does acquired 100 shares mean

Generally speaking the phrase of "acquired 100 shares" means that a person has purchased 100 shares of a corporation's stock.

In the system of triangular trade where were the American colonies allowed to trade their goods

England and its other colonies A+

Once an item is consumed when does its value begin to depreciate

immediately

Once a firm knows what it should produce what must it then decide

how it will produce the goods or services

Shortages or spikes in which of the following can have a potential impact on a global economy

energy

According to the Keynes how can the imbalance between microeconomics and macroeconomics be corrected

through government involvement in banking and fiscal policies

What of the following defines the term land as a factor of production

everything that is not created by humans

Is not a factor in wage variance between different occupations

Big dongs

A firm is dependent on which of these to help it make decisions about production

consumer taste

Related study guides