ECON - Final - Ch 1-11

Which of the following is NOT a provision of the Fair Labor Standards Act of 1938?

A competing product that can be used in place of another is referred to as a(n):

An index of 30 stocks that used to keep track of market performance:

What kind of financial institution is a "banker's bank" that can lend to other banks in a crisis?

A flaw that prevents efficiency in a given market is called a(n):

Which of the following best describes a conglomerate?

The monetary worth of a product is called:

The joining of firms that operate in different stages of production is a _________ merger.

A period in which stock prices rise over several months/years is called a(n) _____ market.

A situation in which average production cost falls as a firm grows larger:

A tax-deferred investment plan that acts as an individual pension fund:

Which of the following is NOT true about individual retirement accounts (IRAs)?

Which law gave unions the right to collectively bargain?

What percentage of deposits does a bank have to keep in reserve, according to the Federal Reserve?

The condition in which society has limited resources to fill unlimited needs and wants:

The length of time you need to work somewhere before you can take your employer's matching contributions with you:

A type of cost that changes as production changes is a _________ cost.

A type of cost that does not change, regardless of output is a ______ cost.

Which one BEST describes how competition between sellers affects prices in a given market?

A disadvantage of a mixed economy is often ________ to continue social programs.

Opportunity cost refers to:

In the American economy, the struggle between sellers to attract buyers is called:

Which of the following is a disadvantage of the American free enterprise system?

In the American economy, the role of the consumer in deciding what types of goods & services are produced:

A situation where the quantity supplied is less than the quantity demanded:

Someone who takes ownership of an asset if the original owner dies:

The maximum legal price that can be charged in a given market:

The various amounts of a product that consumers are willing to buy at each possible price level:

Which federal agency investigates charges of discrimination & sues businesses over patterns of discrimination?

The extent to which quantity demanded/supplied responds to a change in price:

The lowest legal price that can be charged in a given market is called a(n):

Funds that can be accessed through checks and/or debit cards after being deposited in a bank:

The "narrow definition" of money supply according to the Federal Reserve that includes coins, notes, & DDAs:

State legislation that makes it illegal for businesses to require union membership:

Which of the following is NOT a legal right of a corporation?

A mechanism used by buyers and sellers to exchange specific goods/services:

A system of allocating goods & services without using prices:

A product that increases the use of another:

The study of how societies allocate resources to fill unlimited needs and wants is called:

Spreading funds over a large number of investments is called:

The amount of a product offered by sellers at all possible prices is referred to as:

Which business is typically the EASIEST form to start?

A physical place where buyers & sellers exchange securities:

A document that shows an interest-bearing loan that's been made to a bank:

An uncompensated side effect on a third party, also called "spillover:"

The organization that insures customer deposits in case of a bank failure:

Shares of common stock that represent ownership in a corporation are also called:

A claim on the property & income of a borrower:

Which of the following is NOT a protected class under Title VII of the Civil Rights Act?

Which of the following is NOT an example of a public good?

Which one best describes the concept of limited liability?

The difference between sales revenue and the full opportunity cost of resources is known as:

Which of the following is true about certificates of deposit (CDs)?