Mac Econ Final Exam Review

A company that produces ____ or more unrelated products is known as a conglomerate.

This will result in US companies reducing their prices.

What type of competitive environment is interdependent behavior most common?

This market imperfection impacts places like North Dakota more than others.

Which is not a variable cost for a business?

The NASDAQ is an example of a ________.

What is a proper formula for Total Cost, TC?

Which is most likely to depreciate in value?

What type of merger has two companies joining that produce similar goods or services?

Inadequate competition can occur through ___________

The law of variable _____ says if you change one input you will change output.

Where supply and demand intersect one will find ___________.

To calculate cash flow, you need to _______ depreciation expenses to/by your total net income.

Demand elasticity key determinants include _________.

Price changes can cause a change in __________.

Utility is a measure of....

The _____ of a product may likely be different for consumer A compared to consumer B.

Identical products, informed consumers, freedom to enter/exit, large # of sellers exists in....

At what stage in production is both total product and marginal product increasing?

Which FOP is responsible for the other FOP's?

Product differentiation is most important in what economic environment?

________ taxes impact lower income citizens at a higher rate than higher income.

Through a Production Possibility Frontier, a company can measure ___.

If a company has a shortage of product available for consumers, the price was ____.

A stock market with an actual trading floor, and, live traders making face to face deals is?

A monopoly given to a company that has been granted a patent is an example of a ___ monopoly

Which is an example of a non-banking financial intermediary?

Menards offers 11% back via a mail in __________.

Which is least likely to be a fixed cost for a typical American?

Who is typically in charge of rationing?

What's the coupon of a 5%, 10 year, $20,000 bond purchased for $9900?

Amish communities are typically as close as an American may get to a ____ economy.

____ will cause a change in supply.

The second largest source of revenue for local governments typically is _____.

What is typically the #2 source of revenue for state governments?

At what stage in production process does marginal production become negative?

Which goals are highly important in the US economy?

FICA includes deductions for _________.

In the circular flow, businesses hire people in the ________.

This product is most likely to have inelastic demand?

In economic terms, your second choice is known as the/a ____________.

A sin tax would be placed on which of following purchases?

______ will cause a change in demand.

In which nation are you most likely to find a market economy?

Which type of business structure benefits from limited liability?

Communist countries are most often associated with __________ economies.

At what stage in the production process does a company always maximize profits?

A credit union is an example of a ____ cooperative.

Which is not a term used to describe one of the three phases of production.

Companies convince consumers their good is superior to the competitions via ......