Econ Final Review Part A

When considering a bank with which to do business,

This is enjoyed by the producers who are able to produce an item at a lower opportunity cost than their competitors is

An increase or decrease in quantities offer for sale at each and every price as a result of change in an input cost is a

A business organization which furnishes limited liability , unlimited life , and raise large amounts of capital

A financial institution which is non-profit and whose customers are members is called a

What role has the Federal Deposit Insurance Corporation played in banking services?

In order to establish a credit history a consumer must

A credit card is a form of

At higher prices consumers generally buy small quantities, and at lower prices consumers tend to buy larger quantities.

If the Fed wishes to increase the supply of money circulating in our economy, it would do which of the following?

The degree to which a price change of a good alters the quantity purchased of that good is

Investment option which furnishes the investor diversification, professional management and a variety of goal choices

What does the law of demand predict about the relationship between prices and the number of purchases?

Which of the following is an important disadvantage of a corporation?

A type of investment which confers ownership to the investors, and a chance to profit via dividends and capital gains is

The monetary policy tool of the Fed which involves buying or selling U.S treasury securities is

An amount of money offered by a credit user to reduce the initial amount borrowed on a loan is called a/an

Which of the following is the basic reason for countries to engage in international trade?

Credit card companies make money from all of the following EXCEPT

Initially labor unions were organized to do all of the following except:

Basic monetary policy deals with which of the following?

Which of the following is an important advantage of a sole proprietorship?

A good which producers are willing and able to offer for sale at a given time at different possible prices is

A financial arrangement allowing purchase and use now and payment later

the principal + accrued unpaid interest as the basis for calculating interest in the current time period

Whose purchasing power declines most in times of inflation?

A type of economic system in which the questions of what to produce, is answered by consumers and producers

How does the stock market in general assist the global economy?

A form or type of tax characterized by a lower tax rate for lower incomes and a higher tax rate for higher incomes is

The condition occurring in a market when the price is above the equilibrium or market-clearing price is

Someone who combines land, labor, and capital resources, assuming risk in return for a chance to profit

The cost of borrowing money is paid by consumers as

What are the three types of withholdings taken from the typical wage earners paycheck?

The stock market in general may be defined as which of the following?

The figure required by law to appear on all loan forms is the

Engaging in international trade results in which of the following?

The economic system of the United States is best described as