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Econ Study Guide

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Question
Answer
Inflation   show
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show Internal Revenue Service  
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show The part of economics concerned with single factors and the effects of individual decisions.  
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Conglomerate   show
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Substitution effect   show
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Goods   show
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show A system where the laws of supply and demand direct the production of goods and services.  
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show The amount of money that a household has available for spending and saving after income taxes have been accounted for.  
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A cooperative   show
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show Represents a payment with either cash or credit to purchase goods or services.  
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Financial/capital account   show
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Human capital   show
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Consumer Price Index   show
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Supply and demand   show
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Elasticity   show
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show The future sacrifices of economic benefits that the entity is obliged to make to other entities as a result of past transactions or other past events.  
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show Modern economies are characterized by specialization of the means of production and by exchange of goods and services.  
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Comparative advantages   show
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Theory of rational expectations   show
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Which capital markets are the stock market associated with?   show
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What will decreasing personal tax rates do?   show
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Demand curve   show
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show When the supply and demand curves intersect, the market is in equilibrium. This is when the quantity demanded and quantity provided are equal.  
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Losses and business failures   show
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The law of comparative advantage   show
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show When jobs are protected and total employment expands  
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How does the government fund a project that creates jobs?   show
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show The changes in economic activity from subsequent rounds of respending of tourism dollars  
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Free market economy   show
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show The limited availability of a commodity, which may be in demand in the market or by the commons.  
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show A legal form of business operation between two or more individuals who share management and profits.  
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Needs   show
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Conglomerate goods   show
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show An exchange where you give up on thing in order to get something else that you also desire.  
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show The study of individuals, households and firms' behavior in decision making and allocation of resources.  
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show A market state where the supply in the market is equal to the demand in the market.  
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show Determines how much of an item consumers are willing to purchase.  
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Lassiez-faire   show
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show A cost that does not change with an increase or decrease in the amount of goods or services produced or sold.  
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show A trade union that combines all workers, both skilled and unskilled, who are employed in a particular industry.  
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show An institution that manages the currency, money supply, and interest rates of a state or formal monetary.  
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federal budget   show
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Trust funds   show
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show Loans to city or state governments. Tax-free  
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Modified union shop   show
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Lorenz Curve   show
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show Money that has intrinsic value. It has value even if it is not used as money.  
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Macroeconomics   show
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show Organized labor's bargaining strength is a factor that helps determine wages.  
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Perfect competition   show
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Internal Revenue Service   show
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