Economics Semester Exam Review

All of the following can cause an increase/decrease in SUPPLY except..

All of the following are included in GDP except:

The market structure that the letter "C" in the table represents

Law of Supply: As the price of a good rises, the quantity supplied will....

An advantage of this business organization is that the owner gets to keep all the profit

__________ markets steadily move upward, while ____________ markets steadily move downward

Movie Trivia: What NFL game did they attend in Pursuit of Happyness?

An examination of economic behavior of individuals and firms is known as?

Movie Trivia: How much money did Wayne owe Chris when he told him you owe me money? (POH)

A portion of a corporation's profits paid to its stockholders

If an investment has a low risk, what type of return can you usually expect?

Unemployment: Henry has recently moved from NY to IL and is looking for a new job

An advantage of this business organization is that it has limited liability

PNC and Chase are attempting to merge. What type of merger would this be?

Stock index that lists 30 of the largest American companies

What is the basic problems of economics?

If a major car company lowers its prices, other car makers will probably...

What is the purpose of the government in a command economy?

Low interest rates will

In a free enterprise economy, who decides what should be produced?

Which letter represents a phase of the business cycle in which real GDP is decreasing?

What is the least common form of business organization in the U.S.?

Identify the graph

The five factors of production are: land, labor, entrepreneurship, technology, and ___________?

A situation in which quantity supplied is greater than quantity demanded?

Which country is an example of a Command Economy?

A disadvantage of this business organization is double taxation.

I refuse to work for less than $100/hour. I am frustrated and given up. Counted in labor force?

During periods of inflation, people living on a fixed income (retirement) have..

Unemployment: Selena lost her job during the recession as businesses cut back on their spending

Movie Trivia: What color was Chris Gardner painting his apartment when he was arrested?

Social Security and unemployment are an example of which social/economic goal of the U.S.?

Henry Ford's assembly line would be an example of?

Identify the graph

Most savings institutions in the U.S. are insured by the FDIC for up to $____________?

The number of district and branch banks that make up the Federal Reserve

If the price of new automobiles goes up, then the demand for used cars will?

Which letter would the fast food industry represent?

A long term tax-sheltered investment for retirement

To decrease the money supply, the Fed can

What is an example of an inelastic good?

What country has a market economy?

What should be included where the question mark appears in the illustration?

Which of the following would NOT affect the DEMAND for a product?

Investing $ in many different places such as the stock market and bonds would be an example of?

The type of investment that carries the greatest risk

He said that the government should keep its hands off the economy in a Laissez Faire policy

According to the supply curve above, 400 movie videos will be supplied at what price?

Movie Trivia: What class was Frank teaching when he was pretending to be a substitute?

Which Act was the first legislation to limit and control monopolies?

Identify the graph

The situation in which quantity demanded is greater than the quantity supplied

Movie Trivia: What airline did Frank pretend he was with when impersonating an airline pilot?

Identify the graph

When someone saves money, who does this benefit?