Economics Final Exam

What motivates people to work, save, and invest

The risk of ending up with the equivalent of a never-ending loan is one the disadvantages of using

Equilibrium is reached hwne what occurs

Which of these will mostlikely create a challenge for our nation within the next few decades?

The three synonymous terms to describe the US economic system are free enterprise, capitalism, and

Which of these is an accurage statement about mixed economies today?

The level of produciton that genrates just enough revenue to cover its total operating cost is called

Inflation causes people to

A woman borrows money to buy a house, if she doesn't pay the money back, she loses the house. What is the house?

How do economists use aggregate supply and demand curves?

Opportunity cost refers to

Which of these describes a general connection between the money supply and interest rates?

When two companies that produce the same kind of product merge, this is called a

Most successful investors invest

Why is it important to live on a budget?

Which of following would give an investor an overall picture of the value of the market

Which of the following is a disadvantage of a market economy?

What does a stockholder hold?

What do most economists believe is the most efficient way to allocate resources?

Which of these best names the policy implemented by the Fed when a short term expansion of the economy is called for?

Which activity is illegal in a state with a right to work law?

Which of the following would not be considered part of a nation's GDP?

What do state governments spend the most on?

How does population growth affect a country's natural resources?

What does a protective tariff seek to protect?

What is the main advantage of a mutual fund for an investor?

What are the characteristics of demand

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Socieities are faced with which three basic questions about production of goods

. ​A decline in real GDP lasting at least two quarters or more is called a

The Sherman Act, the Clayton Act, and the Federal Trade Commission Act were all designed to

A business run by a single person is a

When deciding how to use resources, you need to evaluate the costs & benefits of each choice to decide this is called

In which of these systems is the govt most likely to provide people with goods & service thye could not otherwise afford

What are the causes of price changes most of the time?

Which of the following terms describes a strong stock market

Which of the following is one of the three functions of money?

Economics is best defined as the study of how socieites dela with

Which of the following replaces a costly item with a less costly one?

Supply-side policies aim to