Econ exam review

The purpose of expansionary fiscal policy is to:

Coal is an example of:

GDP expressed in constant, or unchanging, prices is called:

How we allocate our resources best describes:

If the Federal reserve raised interest rates,:

Which is true about elastic demand?

Law of Supply?

As price goes down, people will buy more. This describes:

Opportunity Cost can be examined by using a:

If Quantity demanded changes very little compared to a large change in price, it has to be:

The quantity theory of money holds that excessive increases in the monetary supply

What is the most fundamental problem of economics?

What kind of economy is the U.S. based upon?

Specialization makes a process:

If the supply curve shifts to the left,

C + I + G + F is best described as:

When prices rise, which of the following happens to income?

Which is considered the heaviest on low income taxpayers?

A bond is really just a:

A resource made by humans and used to create other goods and services are called:

A market in which final goods and services are purchased:

Dollar Cost averaging refers to:

A court house or a public walking trail  would most likely be financed through:

The cost of giving up the next best alternative or choice (second choice).

Not having enough resources to fulfill all of our wants:

Inflation and Unemployment move:

What is the function of an economic system?

What is "medium of exchange" as it refers to money?

If population increases:

Which reduces risk to investors?

Which would not change (shift) demand?

Which one is NOT one of the three Economic Questions?

A factory is an example of:

Which type of economy does the government control the resources?