Economics Final Study Guide
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| show | A general increase in prices across an economy
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| Branch of the U.S. Treasury Dept. in charge of collecting taxes | show 🗑
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| Microeconomics | show 🗑
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| show | a firm that has at least four businesses, each making unrelated products, none of which is responsible for a majority of its sales.
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| show | The change in quantity demanded because of the change in the relative price of the product.
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| goods | show 🗑
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| show | In a market economy people and firms act in their own best interest to answer the what, how, and for whom questions.
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| disposable personal income | show 🗑
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| a cooperative | show 🗑
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| show | an amount of money spent.
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| financial/capital account | show 🗑
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| human capital | show 🗑
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| Consumer Price Index (know how it works) | show 🗑
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| show | relationship between the quantity of a commodity
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| show | a measure of a variable's sensitivity to a change in another variable
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| liability | show 🗑
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| specialization and exchange | show 🗑
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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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| show | a graphical representation of the relationship between the price of a good or service and the quantity demanded for a given period of time
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| show | when there is no pressure for the market price to change.
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| Losses and business failures | show 🗑
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| the law of comparative advantage | show 🗑
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| When will income and living standards of a nation increase? | show 🗑
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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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| show | one without government intervention or regulation. In a purely free market, buyers and sellers arrive at prices based only on supply and demand.
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| show | They need additional reserves and cannot borrow from other banks.
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| economics | show 🗑
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| scarcity | show 🗑
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| partnership | show 🗑
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| show | a need is something needed to survive.
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| conglomerate goods | show 🗑
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| show | A situational decision that involves diminishing or losing one quality, quantity or property
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| microeconomics | show 🗑
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| market equilibrium | show 🗑
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| marginal utility | show 🗑
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| laissez-faire | show 🗑
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| show | business expenses that are not dependent on the level of goods or services produced by the business. They tend to be recurring, such as interest or rents being paid per month. These costs also tend to be capital costs.
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| industrial union | show 🗑
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| central bank | show 🗑
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| show | the major plan for a federal government's estimated future revenues and spending for the coming fiscal year.
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| trust funds | show 🗑
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| show | a type of debt security issued by local, county, and state governments.
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| show | A provision in the union contract requiring all new employees to join the union and requiring all workers already in the union to remain as union members.
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| Lorenz Curve | show 🗑
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| commodity money | show 🗑
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| macroeconomics | show 🗑
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| theory of negotiated wages | show 🗑
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| show | a perfect market, also known as an atomistic market,
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| show | The revenue service of the United States federal government.
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