Nations _____ because everyone specializes in the production of goods and services.
What is trade
200
If a company pays for the college education of an employee, then this is an example of an investment in
What is human capital?
200
A currency's value in terms of another currency
What is exchange rate
200
Refers to the management of government taxing and spending to prevent inflation
What is fiscal policy
200
Measures the rate of inflation
What is Consumer Price Index (CPI)
200
When a country makes more of a product at a lower opportunity cost than another country
What is comparative advantage
300
Capital, entrepreneurship, land, and labor are referred to as
What are the factors of production
300
The policy used by the Fed to control the money supply
What is monetary policy
300
If the government lowers taxes and raises spending, then the economy is in
What is a recession
300
Benefits from inflation because they owe less in terms of value
What are borrowers
300
A tax on imported goods
What is tariff
400
Production possibilities curve
What is a graph that shows the combinations of two goods that can be produced in an economy or company given their resources
400
__?__ > 12 Regional Banks > The Federal Open Market Committee
What is the Board of Governors
400
The total supply of goods and services within a country in a given time period
What is aggregate supply
400
Measures economic growth
What is gross domestic product (GDP)
400
The US placed an _____ on Cuba, so they no can longer trade.
What is embargo
500
Unlimited wants but limited resources
What is scarcity
500
When the value of the dollar depreciates because there is too much of it in the economy, this is called
What is inflation
500
When high unemployment and high inflation occur simultaneously
What is stagflation
500
During a recession (high unemployment), the government uses a _____ fiscal policy.
What is loose
500
An increase in the number of illegal Mexican immigrants coming into the US and stealing jobs for cheap wages after the approval of NAFTA is an argument against ______.