A
What is the primary economic concern of a society?
how to best achieve its economic goals
What kind of goods are those that firms use o produce consumer goods.
Capital goods
Who is the Father of Communism?
Karl Marx
Who is the current President of the United States?
Donald Trump
What kind of goods are purchased and used for personal use
consumer goods
What kind of good would a car be?
A consumer good
The public provision of further training or education for the unemployed is called what?
Workfare
Over the weekend, what important U.S. polical figure was revealed to have prostate cancer?
Joe Biden
What term indicates when someone who wants to work but cannot find a job
Unemployment
What kind of growth happens when a nations business firms increase their production of goods and services by using their existing factors of production with greater efficiency?
Extensive Growth
What type of growth happens when business firms are able to increase their production of goods and services because they have more land, labor, or financial capital available to them?
Extensive growth
On Saturday night, a navy vessel from Mexico ran into what famous U.S. landmark?
The Brooklyn Bridge
What is an increase in the quantity of goods and services a nation can produce?
Economic Growth
What belief states that each person has a right to a part of the wealth because they are human?
egalitarian fairness
What question asked what the nation will produce?
The output question
What did the country of Quatar recently gift to the President of the United States? This has been a controversial issue.
A Boeing 747 that is thought to be something that can be converted into Air Force One.
Name two of the four primary economic objectives of a society.
Low level of unemployment
Stable price levels
Healthy rate of economic growth
Fair distribution of income
What three questions do a nation's economic decision makers must answer?
What will be produced?
How will the nation produce its goods?
Who will receive what the nation produces?
What is the most common approach to the labor/capital ratio for command economies?
What's the problem with it?
They try to pursue full employment (give everybody a job)
This means that there will be many workers who are unproductive.
President Trump's administration has been attempting to suppor his tax bill through congress. Recently the House of Representatives voted against it. What is the nickname for this bill?
The "big, beautiful bill"