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Eco unit 1 review Flashcards | StudBud
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Eco unit 1 review
Eco unit 1 review
25 terms
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StudBud Administration
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a overall review of economic principles
Flashcards
25 cards
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Practice quiz
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Questions
25
Answers
1
_ _ are changes that occur early in the business cycle.
incident indicator
leading indicator
lagging indicator
2
Striking workers carrying signs outside their workplace are _
marching
lobbying
picketing
exercising
3
The advantage of becoming a corporation in Florida is
limited liability
unlimited liability
4
A Work stoppage by owners or the employers is called a
lockout
strike
knock out
wildcat strike
5
The period during which real GDP doesn't grow for 2 or more consecutive quarters is a
expansion
peak
contracion
trough
6
Business cycles typically last _ to _ years
8 to 10
3 to 5
10 to 12
5 to 10
7
If a 3rd party is called in to mediate a dispute the ruling issued could be binding or
subject to grievance
a reason to appeal
non-binding
8
The _ _ _ is the total $ value of all final G& S produced in a nation in a nation in one year
broccoli
Gross Domestic Product
disposable income
national income
9
A grievance procedure may be filed if the _ is violated.
mood
contract
law
person
10
The practice of using capital funds in a country other than you own is known as _ _
capital flight
avoiding taxes
cooking the books
11
The money left over after you have paid your taxes is called _ income
recreational activities
disposable
the absence of spending is savings
12
Developing nations generally share 5 characteristics; low GDP, agri eco, poor health conditions
high literacy rates and low population growth rates
low literacy rates and long life expectancy
low literacy rates and a high population grown rate
13
Unwise investments, inability to adapt to change, using inappropriate technology, rushing to
rapidly industrialize
rushing to sue
put a product on the market too soon
14
The monetary policy tool used most often by the FED is _ _
reserve requirement
discount rate
moral suasion
prime interest
15
Florida is a right-to-work state, which means _ _ are illegal.
discount stores
open shops
bargain depots
union shops
16
Unions are financed through membership _
car washes
dues
kickbacks
$10,000 plate fund raisers
17
A work stoppage by union members is called a
strike
a vacation
lockout
wasteful
18
Refusing to buy a company's product or use their service is called
boycott
freedom of choice
disloyalty
19
What is COLA in economic terms?
Cost of Living Allowance
Sprite
Dr. Pepper
Pepsi
20
The process by which unions and employers negotiate the conditions and wages is called _ _
grievance procedure
arbitration boards
time out
collective bargaining
21
_ _ occur late in the business cycle.
coincidental indicators
leading indicators
accidental indicators
lagging indicators
22
A _ _ _ is used to measure the change in price over time of a specific group of G & S
CPI
S & P
DJIA
Production quotas
23
Humanitarianism, economics, politics, and to protect a nation's security are all reasons nation
the World Bank exists
the red cross exists
send troops
give foreign aid
24
One drawback to electronic banking is the lack of
permanent record
daylight
paper trail
25
The 2 biggest goals of a labor union are job security and
uniforms
conventions
insurance benefits
wages