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eco class of 2021 review b Flashcards | StudBud
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eco class of 2021 review b
eco class of 2021 review b
30 terms
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494 plays
review of key concepts
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30 cards
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Questions
30
Answers
1
Percentage of people who can read and write is called the
success of schools
life expectancy rate
dow jones industrial index
adult literacy rate
2
Prices on G & S are determined by both
supply & demand
shortage
clearance
surplus
3
When you are only able to grow enough food for your family, none for export or sale you are
subsistence agriculture
sharecropping
industrialized
4
Your total debt should only be % of your gross income
25
75
33
52
5
The increase in value of an asset is known as a _ _
value added tax
capital gain
capital loss
wise investment
6
Money can be converted from its currency to another through foreign
glossaries
dignataries
exchanges
7
Keynesian economists believe the Great Depression resulted from
unemployment
a circular flow
an imbalance of leakages & injections
an equilibrium
8
People who act as go-between for buyers & sellers of stocks & bonds are called
buds
bibbs
brokers
waitstaff
9
One example of intellectual property that is difficult to protect is
recorded music
commericals
videos
10
Creations of a person's intellect that are protected by copyright and patents are known as
intestinal fortitude
intellectual property
indecisions
11
Goods sold to another country are called
imoorts
exports
tax revenue
tariff busters
12
A person who organizes, manages, & assumes the risk of business in order to profit is a
entrepreneur
manager
smart cookie
CEO
13
Which act protects the privacy of information in a credit check?
Truth in Leading Act
FDIC
Fair Credit Reporting Act
Equal Credit Opportunity Act
14
Education provided via telecommunications technology is referred to as distance
library
education
media center
15
Nations with little industrial development & low standards of living are referred to as
developed
developing
industrialized
superpowers
16
People who have invested in a corporation and own stock are called
stockholders
foolish
wise
smart
17
In a _ _ the company pools the monies of many individual to buy and resell stocks
t-bills
j bonds
promissory notes
mutual funds
18
According to the law of supply as the price for a good rises
consumers stop buying
quality increases
quantity supplied decreases
quantity supplied increases
19
_ issued by the federal gov as a way of borrowing money, must be held for a certain time.
preferred stock
t-bills
bonds
20
A _ _ restricts the amount of interest that can be charged for credit.
tariff of 2017
Usury law
treasury bill
21
In which of the following market structures is advertising most important?
pure competition
monopolistic competition
monopoly
oligopoly
22
People who don't follow federal & state laws regarding employment are part of a _ _
underground economy
passive resistance
anti-business sector
private sector
23
Which act ensures that consumers are informed about the cost & conditions of borrowing?
NAFTA
Truth in Lending Act
FDIC
Fair Credit Approval Act
24
In which market structure do businesses compete by product differentiation and advertising?
pure competition
monopolistic competition
monopoly
oligopoly
25
The absence of spending is
savings
painful
poor
wise
26
A company with exclusive rights to provide a public G& S is called a government or
mixed market
natural monopoly
cartel
27
The _ _ _ is the death rate for live births who don't make their 1st birthday.
standard of living
birth rate
infant mortality rate
literacy rate
28
The most extreme form of imperfect competition is a
pure competition
monopoly
monopolistic competition
oligopoly
29
The information age came about as a result of the merger of computer technologies and
netflip
telecommunications
ingendity
30
_ are goods bought from other countries for domestic use.
exports
imports
custom made
duties