Econ Final

an economy at its production possibilities frontier is operating 

this regulates the sale of stock in a corporation

All of the following can change the market supply curve EXCEPT

workers with knowledge-based managerial skills are 

the purpose of government in a command economy is to 

the concept of voluntary exchange means

A popular model used to illustrate the concept of opportunity cost is 

Junk Bonds

When a customer's need for production is not urgent, demand tends to be

When a bank is about to collapse,

unlike a general partnership, in a limited partnership

 some necessities have little value while some non-necessities have a much higher value 

Bonds

$ value of final goods and services and the most comprehensive measure of country's production

the local chamber of commerce works to

because a modest price increase has little or no effect, the demand for the product is

increase in the price of milk causes a decrease in the demand for cereal. The two products are

The incidence of a tax 

to arrive at an economic decision, a decision making grid may be used to evaluate 

as a result of the financial institution crisis of the 1980s, S&Ls are now insured by

the study of economics is important because it enables us to 

Most stocks in the United States are traded on the 

Rent payments and property taxes would be counted as...

Willingness to replace a costly item with a less costly item is an ex of..

The largest category of state spending is 

Ann earns $10,000 with $1,000 in tax Jerome earns $60,000 with $20,000 in tax. The tax paid is 

which of the following is NOT a nonprofit organization?

in a general partnership

actions in one part of country or wolrd taht have an economic impact on what happens elsewhere

A market economy

The supply of a product normally decreases if

For most products and services, increased price results in 

the money used to buy the tools and equipment needed for production is know as 

manufactured goods needed to procduce other goods and services are called 

A merger of corporations involved in different steps of manufacturing or marketing is known as

The largest category of spending for most local governments is

In order for money to have value, it must have all of the following characteristics EXCEPT

The flat tax

the authority to levy a federal income tax comes from

The incidence of a tax

an example of a market economy is 

INcrease in price of cameras results in decrease of demand of film. The two prducts are..

division of labor is a characteristic of 

Money loses its value when it

FICA includes taxes to pay for

A demand schedule shows

Pain medication was reduced by 30%, profits declined by 30%, demand for the product is..

Advertising fashion trends and new product introductions serve to 

An example of mandatory spending is financing for

an advantage of a corporation is that

The FDIC was established to

Labor and management ask a third party to collect information about a dispute, they are using..

Which group of people ultimately determines the products that a free enterprise economy produce

all of the following are ex. of the government playing a direct role in economy EXCEPT

The flat tax

Workers who have the skills to operate machines & who require a minimum amount of training are

Total cost is the sum of the...