Final Exam 2015

The rate of change in prices over a set period of time is called

Which of the following would be considered an intellectual property?

This negotiated between the president and a foreign leader,doesn't need approval by the Senate

Which one of these programs is health insurance for low-income families?

An extended period of high unemployment and limited business activity is call

What is a business owned and managed by a singe person called?

Public goods are funded by

The main way  the Federal Government raises revenue is through

The Constitution gives the power to declare war to

If a company controls a specific process for making a product, it has a 

What two factors are necessary for demand?

In the United States, harvest-time customs represent the influence of a 

What program helps those who are ill, unemployed, and the elderly?

Contractionary Monetary Policy is sometimes called 

One of the physical properties of money is

This regional security pact was developed by the United States and Western Europe

Which of the following exists when a few firms dominate a particular industry?

The situation where women tend crops and raise children while men hunt is often found in a

This is a hands-off approach to the economy.

Supply is defined as

Any Law Passed to limit free trade between nations is called a trade

Equilibrium Price is the price at which the quantity demanded and the quantity supplied are

The Fed is controlled by 

Taxes on imports which are levied specifically to raise money are called

Money whose value is  based on the type of material from which it is made is called

A need is  fulfilled by

Into what four categories do economist divide factors of production?

Public facilities and private property are examples of

The human time, effort and talent that go into the making of products is called

Most visitors to the united States must obtain a 

A specific region in which trade between nations takes place without protective tariffs is 

A circular flow model shows how

The supervisor of the diplomatic activities of the United States is the

The value of all final goods and services produced within a nation in a given time is called

An externality is a side effect of a transaction that affects

The power to raise revenue and pass appropriations is a power of

In a market economy, the real power in the market place is held by the

The guiding strategies and goals that direct U.S. relations with other countries are its

Which of the following is an example of a entitlement program?

A shortage of a particular good is often a signal for a producer to 

This program helps people who are temporarily out of work

When a nation's economy nationalizes it changes from 

The value of what you give up by choosing one alternative over another is called

Who is a producer?

A supermarket running out of bananas is an example of

This organization is the central banking system of the United States.

Mergers occur when

One of the economic properties of money is 

Absolute loyalty to the people in power is required by a(n)

Historically, the Constitution reserved for the states the right to control this area.

Expansionary Monetary Policy is sometimes called

An example of real capital is