Econ FINAL REVIEW

What will happen to the supply of corn if new farming technology is introduced

If the economy is experiencing high inflation, the Federal Reserve should ________ interest rates.

This is a term for the 3 basic resources that are needed to produce any kind of god or service.

When supply or demand decrease, the curve on the graph shifts to the

In this type of tax structure, higher income earners are charged a higher rate than those who make less money.

An extended period of decline in the stock market is known as a

According to the law of demand, as prices increase

Economic system where decisions are made by a combination of the government and private actors

This is the next best alternative that you give up when you make one decision over another.

Who is responsible for enacting fiscal policy?