DECA Econ Review

Economic goods differ from economic services in that economic goods are

Which of the following is true about the Federal Reserve System's role in the economy

When marketers provide information about an available product, consumers are more likely to

One of the most important ways that businesses use budgets is for

Which of the following increases interest rates to promote economic growth and full employment

The price consumers are willing to pay for a product indicates their estimate of a product's 

A country is experiencing civil unrest. What is likely to happen to the value of its currency?

How do nations track the flow of money coming in and going out of their countries?

Which of the following types of taxes would guests pay on hotel bills

Which of the following accompanies a strong, growing economy:

Changes in fiscal and monetary policies often have an effect on the

An example of a noneconomic want would be the desire for

Producers compare relative prices in order to answer the question of

Which of the following is an economic activity:

Increased export trade might result in an increase in

Which of the following does the Federal Reserve System have responsibility

When inflation levels are low, businesses often consider

What often determines the value attached to money payments for resources?

Businesses in trade industries that offer discount prices usually offer

By counting the number of gifts wrapped and a gift-wrapping booth at a mall, you are finding

What type of economic system is used in the United States?

Purchasing insurance to cover business risks is an example of business risks' being handled by

A salesclerk working part time at a clothing store is an example of a(n)

The calculation of GDP includes government purchases at which of the following levels:

A worker repeats a task 20 times a day at a certain pace abiding by guidelines.  This job is

Exxon Oil, a creator of petroleum products, is an example of what type of producer?

As a trainee in a large business, Rob spends three weeks working in each department.  This is

Which of the following is NOT a basic element in all economic systems:

The city increases its sales tax from 6% to 6.5%.  This is an example of

An example of the governement using price supports is when the government

Which of the following would the Federal Reserve Bank do to expand monetary policy

Mandy's band recently composed and recorded a new song.  To prevent other groups from using it

Which is a legal concept that affects businesses that operate in foreign countries:

Which of the following often enables certain countries to trade successfully with each other:

What is one of the main reasons why governments levy taxes?

Which of the following factors increase the demand for money:

Why does the demand for money change?

Which of the following is a factor that influences a person's role in business in many cultures

In a floating exchange-rate system, currency values are determined by

Which of the following make up an economic market:

A company requires employees to serve on committees.  They're increasing productivity with

An advantage of specialized labor is that workers perform jobs efficiently and production rate 

If interest rates go down, which of the following would most likely occur:

Why does the Federal Reserve System raise interest rates?

A manager computes the number of sales each salesperson completes in one day.  He is measuring

A period of recession is normally accompanied by

If a government wants to decrease economic growth, it would use contraction fiscal policy like

Determine Utility Described: The Fudge Factory produces candy in its commercial kitchens

Unemployment hurts the economy because unemployed people are unable to contribute to the

What occurs when the Federal Reserve Bank purchases treasury bills?