EPF Final

Economy where market and government both play a role in determining the production and consumption of goods is called

A dependent is someone who...

A market such as car manufacturers that only has 3 or 4 producers in the market is known as a(n)...

Money from your employer goes to your checking account

All of the alternatives when we have to choose one course of action over another; like a choice between “this or that”

Soft skills can be best described as...

Which of the following statements explains what gross and net pay are on a paystub from your employer?

In a free market economy, how are prices for goods established?

Which of the following is a sign that you have a budget deficit?

Which of the following formulas should be used to calculate the net price of school?

When one country retaliates against another by raising import tariffs or placing other restrictions on the other

What economic policy would a supporter of laissez-faire economics support?

Which of these statements about saving is INCORRECT?

the phases of expansion and contraction in economic activity

Which of these would be most often encouraged by the government in a command economy?

You will find each of the following pieces of information on your Student Aid Report (SAR) EXCEPT...

When you complete your 1040 form, if you overpaid your taxes and the government owes you money, that is called a ______.

You start a business and need to purchase office supplies to run the day to day operations.

Which is NOT one of the factors that can effect elasticity of goods?

Instrument used to measure the price of typical everyday goods.

Details all costs of attending an institution, along with all of the scholarships and loans a student is eligible for.

a pact between two or more nations to reduce barriers for trade

According to the law of supply, sellers will be more likely to increase their quantity supplied when...

Why is monthly rent a fixed cost for a business owner who makes a product to sell?

FDIC Insurance is...

When the price of gasoline goes up, what will the airlines do to continue to earn a profit?

A person opened a booth at a flea market to sell paintings. This is an example of which factor of production?

This factor of production includes: the people doing the work

In which circumstance would a shoe store reduce the price of shoes?

What is the formula to determine Total Cost (TC)?

In a market economic system, what happens to the price of a good when its supply increases and its demand decreases?

Actions the Federal Reserve takes to influence the level of real GDP and inflation rate is known as...

What form do you use to file a tax return with the IRS?

Hard skills can be described as...

What program offers paid tuition and guaranteed career after college graduation?

This factor of production includes: water, iron, coal and trees.

Which government-run website allows you to download your credit report for free on an annual basis?

Which of the following transactions will REDUCE your checking account balance immediately?

What are the two most important factors in calculating your credit score?

Capitalism, free market, no government intervention

Your employer gives you this document, which is a summary of wages for the year.

When loans are amortized, monthly payments are __ , the interest of the monthly payment __ and the principal __.