Economics EOC Review Part 1

What does a increase in the Business Cycle graph represent?

What is a mutual fund?

What has the business cycle shown since World War 2?

What was the issue with Continental dollars during the Revolutionary War?

What are some advantages of a free market economy?

What is the difference between a change in demand and a change in quantity demanded?

What is the first step in measuring inflation?

What is scarcity?

How can the government increase the money supply?

What is hyperinflation?

What is a bull market?

What is elastic demand?

What is a factor of the circular flow diagram?

What is the difference between a change in supply and a change in quantity supplied?

What is a graphical representation of the comparison between consumer goods and capital goods?

What is an opportunity cost?

The M1 money supply is made up of currency and other checkable deposits.

What is a bond?

What is a surplus?

How can the government decrease the money supply?

What does a decrease in the Business Cycle graph represent?

What are some disadvantages of a free market system?

What is an advantage that the IRA and 401K have in common?

When was the Federal Reserve System established? (year)

What is a bear market?

What is the best type of retirement account?

What is the Law of Demand?

What is the Law of Supply?

What is inelastic demand?

What is the invisible hand?

How does inflation impact consumers?

What did Adam Smith advocate?