eco final review 1

The 4 phases of the business cycle are trough, expansion, peak and

_ _ provide bank like services for their members.

Property taxes, building permits, vehicle tags are

The basic 3 economic questions that every society must answer are What will be produce, to

Raising or lowering various bank rates, buying & selling securities, moral suasion are all

Land, labor, entrepreneurship, capital and technology are known as the factors of

The 3 main business organizations are sole proprietors, partners and

In today's global economy many countries try to keep a _ advantage.

The 3 basic economic systems are traditional, market and

Who is chairman of the FED?

Innovation is key to a capitalist society therefore _ play a huge role.

Diversification of your investment portfolio is important to minimize risk and increase

Today's money supply is made up of account numbers and

_ must be durable, portable, divisible, stable in value, scare and accepted.

A Keynesian economist would advise _ money into the business cycle during a trough period.

_ policy is controlled by the governments, as they tax and spend.

In this country we use _ money, backed by the US government.

Which price clears the marketplace?

When people agree with fiscal policy decisions they are more likely to _ their money.

_ policy is controlled by the FED.

There are 3 basic taxes in America today. Progressive, regressive and

Tax policy can be used to promote price stability, full employment and economic

Economic stability, growth, equity, freedom of choice, security, & efficiency are all

C D 's are a safe but slow way to make money. C D stands for

The 4 market structures are monopoly, oligopoly, monopolistic competition and