Introduction to Business chapter 2 study guide

Salaries and wages as well as investment income and government payments to individuals.

An increase in GDP per capita means that

How much dirt is there in a hole 3 feet deep, 6 ft long and 4 ft wide?

Represents debt for an organization.

Inflation

The interest rate financial institutions are charged to borrow funds from Federal Reserve banks is called the

Can be increased by an improvement in management techniques

Movement of the economy from one condition to another

If there are 12 fish and half of them drown, how many are there?

What is the National Anthem

People who buy bonds are called

Which type of business sells stock?

Capital projects involve spending by businesses for employee training and benefits

Compares the prices of a group of selected items each year to some earlier year

If there are 3 apples and you take away two, how many do you have?

Name the most recent year in which New Year's came before Christmas

Electric train is moving north @100 mph & wind is blowing west @ 10 mph. Where does the smoke blow?

The last depression in the United States occurred during the 1980s

If you were running a race and you passed the person in 2nd place, what place are you in?

Monthly measure of the sales of durable and nondurable goods bought by consumers

A period of economic recovery

Bob’s father has 4 children. Momo, Meme, and Mumu are three of them. Who’s the fourth?

A period in the business cycle when most people who want to work are working, wages are good, and GDP growth increases.

Only final goods are counted when GDP is measured.

Some months have 31 days, others have 30 days. How many have 28 days?

A decrease in the general level of prices

When you buy a corporate bond, you have lent money to the company

A situation where a government spends more money than it takes in over a period of time

The production output in relation to a unit of input.

The percentage of people in the labor force who are willing to work, are looking for work, but are unable to find work

A period in the business cycle marked by a long period of high unemployment, weak consumer sales, and business failures.

Inflation can sometimes occur when the demand for goods and services is greater than the supply.

The portion of people in the labor force who are not working.