Economics

What truth sums up the reason we have economic study?

Which of the following is calculated in United States GDP?

In modern money, how much did the WWII atomic bomb project cost?

What calculation is used to determine how much it costs to live as an average US citizen?

Which of the following describes the increase in resources leading to a decrease in revenue?

The best place for a market to be (the point where supply and demand cross) is ______

What economic studies deal with facts versus opinions, respectively?

What is the sale of bonds in a Stock Market called?

What economic system is a federal government most similar to?

What treaty concluded World War I?

Without World War II, the US government would be ______

Why is GDP not quite accurate?

Which of the following is a negative effect from a price ceiling?

What economic state requires a country to shrink in one area in order to grow in another?

Which of the following conflicts was the most costly?

Which of the following is a long-term, rational response to scarcity?

All of the following are factors of perfect competition EXCEPT ______

In what situation can a consumer consume beyond what they can afford?

What phenomenon allows for gains to be made from trade?

What would a government impose to keep a good from being too expensive?

What program did the US create to help other countries before entering the war?

Which of the following is illegal in America?

What is the tragedy of the commons?

Much war production in the US depended on who?

Where did Japan send its Twenty-One Demands to?

What term describes a market or country focusing on what they are good at producing?

How can a natural monopoly come to be, and which of the following is an example?

Goods used up in the production of other goods are called _______

German rearmament was made possible because of ________

World War II is given credit for ending this global event.

Who expressed concern for Germany's economic welfare after World War I?

What are basic assumptions of economics?

Which of the following will result in a shift to the right of a demand curve?

What is the term for goods used to produce other goods?

Which of the following is NOT a form of unemployment?

Why is an oligopoly harder to analyze than a monopoly or monopolistically competitive market?

Ill-defined property right contributes to what?

A price above market/equilibrium price results in what?

The bombing of these two cities ended WWII in the Pacific Theater on these dates.

Which of the following goods has high excludability and high rivalry?

What kind of goods become more popular as income goes up?

What did Germany experience when their prices rose and the value of their currency plummeted?

What is NOT an example or advantage of price discrimination?

Which of the following is true according to the concept of substitutes and complements?

Which of the following will NOT shift the demand curve?

______ is the field of economic study on a national/international level.

Which of the following is NOT Pareto efficient in an economy with 10 dollars and 3 people?

When should country Wiseland with absolute advantage over country Tuttlereich ever trade?

An industry becomes a(n) ___ when one firm can supply the good more cheaply than multiple firms

What is the pattern of recessions and expansions called?