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☆☆☆☆☆Cards in this guide (20)
In this department the Bureau of Economics provides an analysis of the nations economy including the GNP
commerce
In which country did Adam Smith live
Scotland
This form of business organization is used by some professional workers like doctors and lawyers
Partnership
This function of money is accepted for buying clothes gas for your car or a ticket to the big game
medium of exchange
What type of tax is imposed on all real and personal property of a deceased person
estate (A+)
A company that has a home office in Tennessee and branch offices in New York and San Francisco has what type of business
interstate
Inheritance taxes and excise taxes on luxury goods are examples of what type of taxes
Progressive
On a graph what are the labels for the axes and the name called
titles
Gross national product minus the capital consumed producing the GNP
Net National Product
Karl Marx would have agreed with Adam Smith
false
What is the most widely used statistical report for comparing economic trends called
The most widely used statistical report for comparing economic trends is called "consumer price index".
Only one person is liable if the business fails
proprietorship
If supply exceeds demand for a product what economic explanation occurs
prices decrease
Which direction does the demand curve on a graph slant
Right to left.
The factors of production are the beginning of the process that makes up the
gross nationaly product
Is an organization that produces and distributes a good or service for profit called a business yes or no
Yes
The formula of subtracting liabilities form assets will provide what
net worth
Which of these terms could be associated with francois quesnay who studied the problems of agriculture and mercantilism
physiocrat
Which of thesse ideas can be demonstrated best by geometric progression
the population will exhaust the food supply
Choose the correct definition of a person who is bankrupt
a person who cannot pay his or her debts
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