What is a portion of the ownership of a corporation?
100
Opportunity cost
What is the cost of an alternative that must be forgone in order to pursue a certain action?
100
A monetary system in which a country's government allows its currency unit to be freely converted into fixed amounts of gold and vice versa.
What is the Gold Standard?
100
Certificate of Deposit
What does CD stand for?
100
Office of Management and Budget
What does OMB stand for?
200
Royalties
What is a payment to an owner for the use of property, especially patents, copyrighted works, franchises or natural resources?
200
Growth, Stability, Full employment, Freedom, Security, Equity, Efficiency
There are seven Economic goals, what are they?
200
Commodity, Fiat, Representative
What are the types of Money?
200
Bankruptcy
What is a legal proceeding involving a person or business that is unable to repay outstanding debts.
200
Expansionary and Contradictory
What are the two Fiscal Policy?
300
Skilled/ unskilled labor, Blue/ white collar worker, screening effect, and learning effect
What are the four types of labor?
300
when there is excess demand- that is quantity demanded is greater than quantity supplied.
Why does a market shortage occur?
300
Reserve Requirement, Open Market Operations, Discount Rate/ Federal Funds Rate
What is a tool used by the Fed?
300
A risk management technique that mixes a wide variety of investments within a portfolio.
What is Diversification?
300
The process in which a business determines whether projects such as building a new plant or investing in a long-term venture are worth pursuing.
What is a Capital Budget?
400
Sole proprietorship, General partnership, Corporation
What the three types of business ownership?
400
gives Congress the power to collect taxes on income without apportioning it among the states.
What is the 16th Amendment?
400
for his advocacy of free-market ideas
What was Friedrich Hayek known for?
400
Capital Formation
What refers to net additions of capital stock such as equipment, buildings and other intermediate goods?
400
'Federal Insurance Contributions Act, law requiring a deduction from paychecks and income that goes toward the Social Security program and Medicare.
What is FICA?
500
Oligopoly
What market structure is controlled by a small group of firms?
500
Adam Smith
An 18th-century philosopher and free-market economist famous for his ideas about the efficiency of the division of labor and the societal benefits of individuals' pursuit of their own self-interest. Who is He?
500
Milton Friedman
Who illustrates the role of monetary policy in creating and arguably worsening the Great Depression?
500
Liquidity
What is the ability of a financial firm to meet its debt obligations without incurring unacceptably large losses?
500
A method for determining whether someone qualifies for a financial-assistance program.