Midterm Test Review

Which market is banking, interest rates, and our Stock Investment Project examples?

Which of these is the outcome when HH's, F's, and Govt's willingly interact and expect to gain?

Which of these represents the most important concept to the overall U.S. Economy? (Buy and use)

Which of these is the "Hallmark of U.S. Capitalism" (sets it apart from other economies)?

On this model what does the “D” represent?

Which of these is the BEST example of economic growth?

Which of these is BEST illustrated by the Production Possibilities Curve Model?

Which of these makes up 2/3 of U.S. Economic Activity today? (Spending of 70% by HH's)

Which of these is MICROeconomic in scope?

Of which economic system is Great Britain the example?

GDP measures output. C= Consumption, I=Investment, F= Foreign trade, G= Gov. Spending

Which of these is an example of thinking like an economist?

Which indirect role of Gov. in a market economy is "providing stability for our econ. system"

In the Labor Market, who are the "demanders" of labor?

Which of these points would represent the U.S. Economy today?

Which of these best describes movement of the U.S. Economy along the economic continuum?

Which of these represents “Factor Markets” (Labor ↔ Wages/Salaries)?

Every graph shows scarcity/choice/tradeoffs/opp cost; PPC shows unemp, productivity, and growth

Your ___ for studying and doing well on this test helps your goal of graduating in the spring

The 3 economic questions are: "What to produce" "How to produce" and "For Whom to produce"

Which of these roles of Government in a market economy is indirect or regulatory?

Which productive goal of U.S. capitalism deals with inflation/deflation?

Which factor of production combines resources to produce G&S with the goal of making a profit?

Which of these best describes "scarcity"?