Hatmaker/Male Economics Review

The type of tax where the less you make the more you are taxed

All of these are factors of production EXCEPT

Gross Domestic Product measures

When an industry makes more product than they can sell they have a __ and they will most likely

The fact that we have unlimited wants but limited resources is an example of

When the economy hits a downturn, GDP is down, Unemployment and inflation rise

When Demand for a good increases

All of the following are economic indicators EXCEPT

The bottom, lowest point of a recession before recovery

The demand curve has which type of relationship

This type of economy is where the government owns the means of production and makes 5yr plans

The economic system where there is private ownership and a redistribution of wealth

When our country will not trade with another in order to punish them

The demand curve has what type of relationship

A tax that charges you more, the more money you make is a

All of these are part of the circular flow of income EXCEPT

The Fed can affect the economy by

The Fed can influence the eonomey by

The way the government can affect the economy through taxes and spending

The type of economy where no money is exchanged and things are based on trade and barter

Economics is the study

"lasiez faire" means

Monetary Policy deals with the Fed

The Federal Reserve Bank can affect the economy by

the type of economy where there is private ownership but the government still has control

There is no such thing as a free lunch refers to which phenomenon

Something that lets us know the state of the economy is a(n)

The Unemployment rate refers to

A mortgage that is below the rate set by the Fed and is dangerous is called a

When supply of a good can not meet the demand for it the economy has a(n)

The point when all of the goods and services are sold at a certain price, supply meets demand