ECONOMICS Final Exam Review

What is Mrs. King's sister's name?

What year did the famous musical "Wicked" come out on Broadway?

Interest is

CD's are very safe

On the American Flag, is the top stripe white or red?

This is used to calculate inflation

What's the opportunity cost of buying 5 Reeces & 2 sodas INSTEAD OF 15 Reeces and no soda?

Loose monetary policy

Mutual funds are

Which of the following is not considered money?

Which broad social goal allows for people to choose what job they want to pursue?

In politics, the republican party is often referred to as the GOP. What does GOP stand for?

Which of the economic goals do command economies prioritize?

Tight monetary policy

Competition is a key element of which economic system?

What purpose does the law of supply and demand serve?

The FED is

What is a tariff?

What year was the first ipod released?

Which of the following is NOT a factor of production?

What is the name of the Vice President?

What is a subsidy?

What is comparative advantage?

What is an excise tax?

Scarcity is characterized by...

Which actor played King T'Challa in the movie Black Panther?

What principle of taxation is the Federal income tax based on?

Stocks are

True or False: During inflationary periods, people who save money will see their puchasing power reduced.

While approximately 50% of Americans believe in aliens, what % believe in alien abduction?

Savings accounts are

What is the basic economic problem?

A hunting license is......

The law of demand states that as price increases, demand will...

Research suggests that between _________________ and _________________ percent of the world's population is left-handed.

Where is the "world's only life-sized corn palace" located in the USA?

What is the difference between a direct and indirect tax?

The Federal Reserve does all of the following except...

What is a Deficit?

Insurance is

True or False : market economies tend to have significant government ownership and involvement