CC Economics Final Review

if adding workers starts decreasing your output, it is called...

Which factors will shift the Supply Curve

Which two structures use advertising & innovation (non price competition) to sell?

America is closest to which economy?

What is the law of Supply?

Something you buy less of as your income increases, such as generic goods, is:

Profit is

If a business is producing on the Production Possibilities Curve, then it is said to be

Which is NOT a factor that will shift the demand curve left or right?

When all items produced are identical, it is

An example of an ownership monopoly is

If you buy something no matter what the price, it is:

What is the policy making body of the FED?

Which correctly describes the law of demand?

If the price of sawdust increases, what happens to the supply of logs?

If McDonalds buys a cow farm, then it is:

If the price of Peanut butter drops, what happens to the demand for jelly?

Economics is the study of choices made when faced with:

Who is the chair of the Fed?

What is monetary policy:

What is GDP with inflation adjusted:

If the equilibrium price of tulips is $20 and a flower shop sells them at $30 what will happen

Will can go to school or Holiday World. He goes to Holiday World, what is his opportunity cost?

When a company decides to produce trucks over tanks, which economic question does this answer?

If a business is producing inside the PPC, then economists would say:

Which insures your money in the bank up to $250k

On a hot day, Ty drinks 3 Gatorades, as he drinks them, he becomes less thirsty. What is this?

If a company can produce trucks or minivans and the price of trucks decreases, what will happen

Which of the following would cause the supply curve for wheat to shift right?

Unit of Account helps determine the ___ of something.