Economics Final Review

A price floor is always:

Which of the following is an example of complementary goods

What is not an argument for protectionism?

When two parties agree to hire a third party and abide by their decision, this is called 

Which of the following will cause a shift ALONG the supply curve

What is a weakness of having a market economy?

Which of the following is NOT a tool of fiscal policy

Which of the following is a problem with rationing?

Medicare and Social Security is covered by what tax?

A strength of having a command economy is

Which of the following is an aspect of elastic demand

A tax where the more you make, the higher percentage of income you pay in taxes is called a

A $50 gas tax levied on every U.S. citizen is what kind of tax?

What does NAFTA stand for?

An example of contractionary monetary policy is:

Public utility companies like SDG&E are examples of: 

Which of the following does not cause a shift of the demand curve?

The study of economics is: 

"a combination of two or more firms producing the same kind of product" is the definition of a 

A price ceiling is: 

Insulin is an example of what kind of demand?

Which of the following is an aspect of inelastic demand?

Which of the following is not a role of the U.S. government in the economy?

What is not included in GDP?

unemployment that results from economic downturns  or recessions is:

What is a negative externality?

Which of the following is not a tool used by unions?

An example of expansionary fiscal policy is: 

Which of the following is not a factor of production? 

Which of the following causes a shift along the demand curve?

What is the poverty threshold for a family of four in the U.S?

Which of the following does not shift the supply curve

"a combination of firms involved in different steps of manufacturing or marketing" is a 

This is not a basic economic question society must face

Which of the following is not a tool of MONETARY policy

Prices are: 

Which of the following is an example of a positive externality?

Which of the following is not a criteria for taxes?