POBF Review 1.01 & 1.02

What can contribute to employees increasing their production?

Unemployment rate includes all except which one ________ ?

The point where the quantity demanded equals the quantity supplied

GDP per capita measures __________.

____ is the highly used measurement to determine a country’s overall economic output

Items you can see and touch; ex. Milk, bread, pencil, paper

refers to the quantity of goods or services that businesses are willing and able to provide.

If the government spends more money than it collects, it is facing a _______.

the demand for products and services exceeds the supply, which may cause anincrease in prices

The people who contribute physical and mental energy to the production process

The measurements of consumer spending include:

What is deflation?

Businesses use money ___ in personal saving accounts to buy for their businesses.

Economic cycles include:

Tools, equipment and buildings that are used to produce goods and services are:

Things that add comfort, pleasure and improve your quality of life

The type of economic resources that includes raw materials:

When you cannot provide enough resources to satisfy every need

The major categories of GDP include all of the following except ________.

What represents the cost of borrowing money?

Things that are required in order to live,essential items

When you must make a choice and give up one item for an alternative choice

Unemployment rate is lowering and demand for products and services is increasing

is the quantity of goods or services that consumers are willing and able to buy.

The bond market make available for businesses and government to ________ money.