AP Macroeconomics: Final

The Origination Clause of the U.S. Constitution forces all tax bills to start in this Gov. body

When the budget is in deficit, the government generally:

The real cost of an item is its __________ or what you must give up in order to get it.

In Econ. the decision by an individual of what to do, is known as this

Which of the following would NOT be included in the M1 definition of the money supply?

When the U.S. dollar appreciates relative to the Canadian dollar, then

This Economic Model Illustrates the trade-offs facing an economy that produces only two goods

When the Federal Reserve engages in open market operations they are buying or selling:

Commodity - or full bodied - money would best be exemplified in

a factor of overall unemployment that relates to trends that occur within the business cycle.

______ is the additional benefit of doing something one more time.

All Resources are ________

The type of unemployment that occurs while workers are searching for a job is called:

If the U.S. dollar depreciates, all other things being equal, then

Efficiency wages are:

People who give up and stop looking for work are called:

The first Secretary of the Treasury, & largely responsible for our current financial system

this amendment to the U.S. Const. allows Congress to levy income tax to provide general Welfare

Which of the following is a LIKELY response to inflation?

_____________ is the economic practice of limiting trade to protect domestic industries.

This person chaired the Federal reserve during the 2006-2009 financial crisis.

Unlike a quota, a tariff can

Which of the following would be the likely result of a tariff on imported bananas from Brazil?

The Treaty of Rome, established the European Economic Community, today it is known as this:

Land, Labor, Capital, and Entrepreneurship is known in economics as the_______.