Final Exam 2015

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

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

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

Expansionary Monetary Policy is sometimes called

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

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

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

Most visitors to the united States must obtain a 

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

Supply is defined as

A circular flow model shows how

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

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

Public facilities and private property are examples of

The main way  the Federal Government raises revenue is through

One of the economic properties of money is 

A supermarket running out of bananas is an example of

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

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

The Fed is controlled by 

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

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

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

Mergers occur when

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

This is a hands-off approach to the economy.

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

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

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

Into what four categories do economist divide factors of production?

Who is a producer?

When a nation's economy nationalizes it changes from 

An externality is a side effect of a transaction that affects

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

Which of the following would be considered an intellectual property?

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

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

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

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

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

This program helps people who are temporarily out of work

Public goods are funded by

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

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

An example of real capital is

A need is  fulfilled by

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

Contractionary Monetary Policy is sometimes called 

One of the physical properties of money is

The Constitution gives the power to declare war to

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

What two factors are necessary for demand?