What is Economic System
What is Macroeconomics and Personal Finance Cont.
What is International Trade
What is Government Revenue and Spending; Economic System;
What is Personal Finance
100
Define government regulation
100
What is the expenditure method for calculating GDP
What is C+I+G+XN
100
What are the Reasons for trade
What is Special resources, unique climate or terrain, valuable raw materials, skilled labor force, capital resources, and favorable geographic location
100
What is fiscal policy
What is Tools the government using to increase or decrease Aggregate Demand; these include raising or lowering taxes and raising or lowering government spending
100
Who benefits from inflation
What is People who owe money
200
What is consumer sovereignty
200
What is stagflation
What is Inflation with a decrease in real GDP
200
What is an Embargo
What is Prohibition on the export or import of a product
200
To increase real GDP, how would the government use these tools
What is The government would decrease taxes or increase government spending ( this would increase AD)
200
What is the relationship between risk and reward
What is The higher the risk, the higher the reward
300
What are the characteristics of a free market
300
What is aggregate demand
What is The total amount of goods and services that ALL of the people in an economy are willing to buy
300
What is a tariff
What is Tax placed on an imported product
300
To fight inflation, how would the government use these tools
What is The government would increase taxes or decrease government spending(this would decrease AD)
300
What are stocks
What is Buying shares in the ownership of a corporation so you get dividends back from the company profit
400
What is private ownership
400
What is aggregate supply
What is The total amount of goods and services that ALL producers in an economy are willing and able to make.
400
What is a quota
What is Limit on the amount of a good that can be allowed into a country
400
What are the Economic goals of market economy
What is Economic freedom, economic efficiency, economic equity, economic security, full employment, price stability, and economic growth
400
What are bonds
What is Lending money to a corporation, to the federal government, to a state or city, or to an organization involved in a public construction project in return for interest on that money later
500
What are the broad social goals
500
What skills help make you successful in the workplace
What is Analytical (problem-solving) skills, Computer skills, Flexibility and Adaptability, Interpersonal ("People") skills, Motivation and Initiative, Self-confidence, Teamwork, Communication skills, Ability to focus on details, Honesty and Integrity, Leadership Ability, Organizational skills, Strong work Ethic
500
What is the difference Absolute/comparative advantage
What is Absolute advantage: Country's ability to produce more of a given product than can another country. Comparative Advantage: County's ability to produce a given product relatively more efficiently than another country, production at a lower opportunity cost.
500
What are the functions of the government in a mixed economy
What is To protect the consumer, to promote national goals, to regulate businesses, to provide goods and services, and to consume goods and services
500
What are mutual funds
What is Where money is pooled from many investors to create investment portfolios consisting of a variety of stocks and bonds
M
e
n
u