Economics Basics

Nationalizing of an industry is most commonly found in what type of economy?

If supply is greater than demand

What kind of money is used in todays's markets?

Which is associated with recessions

Which of the following would be a capital resource?

How do governments redistribute wealth?

Which economic ideology supports the idea of higher taxes?

When the value of money decreases this is called

Who is responsible for monetary policy in the US

Governments ability to stabilize the economy is called

Which is an example of fiscal policy?

What is the most common way to measure the health of an economy?

Why do we have to trade?

Socialism became popular as a result of

Economics is the study of

An overwhelming majority of the world's countries use a

What is typically the most expensive resource in developed countries like the US?

In which economic system do individuals make most economic decisions?

Which of the following is an example of a trade barrier?