Economics Review

What does GDP stand for?

What is an example of expansionary fiscal policy?

What does a shift in the demand curve means?

What is a custom duty?

What concept describes the government's influence on supply?

Poor countries tend to grow faster than relatively rich countries. What is this called?

A monopolistic market, purchase price is higher or lower then a perfectly competitive market

What is structural unemployment?

When does a budget surplus occur?

You are unable to perform your job due to injury or illness, what type of benefit do you get?

Congress sets fiscal policy. What two factors are involved in fiscal policy?

What is outsourcing?

What is a way to build your credit?

What is the definition of capital?

Will paying cash for all purchases build good credit?

What is quantity demanded?

What are the goals of monetary policy (hint there is more then one)?

What is a shortage?

What is an import quota?

The purpose of a production possibilities graph is to?

What is GDP?

What is an excise tax?

What is a mortgage is used to purchase what?

Click on all the factors that contribute to economic growth?

What is a centrally planned economy?

What is an advantage of a Roth IRA?

Why are patents important?

True or False When a person specializes in something, they spend more time producing a product

What is sole proprietorship?

What 2 purposes does money serves?

If there is an increase in demand how does the curve shift on the graph?

What is an advantage to the us when a currency decreases in value relative to the US dollar?

What is demand relationship?

How does recession affect what the Federal Reserve Board will do?

What is a corporation?

What is a measure used to assess the economic development of a country?

What makes a market behave inefficiently?

What is the largest source of revenues for the federal government?

What source of revenue is used to provide services such as libraries, police and fire?

As people get older their investment strategies change. How do they change?

What are the monetary tools used by the Federal Reserve (hint more then 1) ?

What is Fractional Reserve Banking?

What is Seasonal unemployment?

What does supply represent?

How do consumers react when a company is considered monopolistically competitive?

An advantage of having your investments diverse, otherwise known as a diverse portfolio?

What is the opportunity cost of a decision?

What 2 programs does the Federal Insurance Contributions Act (FICA) fund?

What is a free market economy?

What is an import fee?

As GDP rises what happens to unemployment?

What is an estate tax?

What does inelastic mean?

Adam Smith believes economies will self-regulate. What is the concept is this?

What is a partnership?

What is cyclical unemployment?

What are the all the characteristics of an entrepreneur? Hint there is more then one.

A company adds a new popular product. Will the demand increase or decrease?

What does it mean if you are thinking at the margin?

What is demand?

What is scarcity?

What is an advantage of 401(K)?

What is liquidity?