Illegal Markets
What are back channel markets called
What are Black Markets
Whats the difference between GDP and real GDP
What is real GDP accounts for inflation
How much variety exists in perfect competition
What is None
When was our last recession in America
What is 2008
Illegal markets provide employment opportunities
What is Yes
What measures economic growth and total value of all goods and services
What is GDP
Is America in perfect competition
What is false
Inflation:
Increases costs of goods and services
What might cause illegal markets to grow
GDP stands for:
What is Gross Domestic Product
Can externalities be positive
What is truye
Incentives can be negative or positive
What is true
Examples of how illegal markets breach traditional supply and demand
What is smuggling goods and services
CPI stand for:
What is Consumer price index
Is pollution a negative Externality
What is Yes
Incentives are:
Economic means to motivate consumers to act a certain way
What is a "positive" of illegal markets
Provides desperate needed jobs
What Economic device measures inflation
What is CPI
What was included in the slide "Imperfections of Production"
What is externalities and competition
An example of Incentive covered in slideshow
What is Rationing