Economics Semester Exam Review

Identify the graph

He said that the government should keep its hands off the economy in a Laissez Faire policy

Unemployment: Selena lost her job during the recession as businesses cut back on their spending

What should be included where the question mark appears in the illustration?

Which of the following would NOT affect the DEMAND for a product?

What is an example of an inelastic good?

The market structure that the letter "C" in the table represents

Movie Trivia: What airline did Frank pretend he was with when impersonating an airline pilot?

According to the supply curve above, 400 movie videos will be supplied at what price?

Henry Ford's assembly line would be an example of?

Which letter represents a phase of the business cycle in which real GDP is decreasing?

The situation in which quantity demanded is greater than the quantity supplied

Low interest rates will

A disadvantage of this business organization is double taxation.

During periods of inflation, people living on a fixed income (retirement) have..

Identify the graph

Law of Supply: As the price of a good rises, the quantity supplied will....

A situation in which quantity supplied is greater than quantity demanded?

Social Security and unemployment are an example of which social/economic goal of the U.S.?

Movie Trivia: What class was Frank teaching when he was pretending to be a substitute?

Which Act was the first legislation to limit and control monopolies?

Movie Trivia: How much money did Wayne owe Chris when he told him you owe me money? (POH)

I refuse to work for less than $100/hour. I am frustrated and given up. Counted in labor force?

A portion of a corporation's profits paid to its stockholders

All of the following can cause an increase/decrease in SUPPLY except..

Stock index that lists 30 of the largest American companies

What is the basic problems of economics?

Movie Trivia: What color was Chris Gardner painting his apartment when he was arrested?

Investing $ in many different places such as the stock market and bonds would be an example of?

What is the purpose of the government in a command economy?

Identify the graph

If an investment has a low risk, what type of return can you usually expect?

What country has a market economy?

All of the following are included in GDP except:

The number of district and branch banks that make up the Federal Reserve

In a free enterprise economy, who decides what should be produced?

PNC and Chase are attempting to merge. What type of merger would this be?

A long term tax-sheltered investment for retirement

An advantage of this business organization is that it has limited liability

Unemployment: Henry has recently moved from NY to IL and is looking for a new job

If the price of new automobiles goes up, then the demand for used cars will?

__________ markets steadily move upward, while ____________ markets steadily move downward

Which letter would the fast food industry represent?

Movie Trivia: What NFL game did they attend in Pursuit of Happyness?

If a major car company lowers its prices, other car makers will probably...

The five factors of production are: land, labor, entrepreneurship, technology, and ___________?

What is the least common form of business organization in the U.S.?

To decrease the money supply, the Fed can

Most savings institutions in the U.S. are insured by the FDIC for up to $____________?

Which country is an example of a Command Economy?

The type of investment that carries the greatest risk

When someone saves money, who does this benefit?

An examination of economic behavior of individuals and firms is known as?

An advantage of this business organization is that the owner gets to keep all the profit

Identify the graph