What about pineapples?
If the price of pineapples increases, this would be the effect on the supply of pineapple smoothies.
What is decrease?
C + I + G + (X-M)
What is the equation for GDP?
This historic event caused the United States to follow the ideas of Johnathan Keynes and started government spending or expansionary fiscal policy.
What is the Great Depression?
This type of business organization has only one owner and has unlimited liability. Sole Proprietorship, Partnership, or Corporation
What is a Sole Proprietorship?
Local governments like the city of Clarksville get their largest source of revenue from a ______ tax.
What is a property tax?
Owners close their pineapple factory because of a recession. The workers are experiencing ______ unemployment/
What is Cyclical unemployment?
This is used to figure out inflation using a market basket of over 80,000 items. Is also the best measure for the cost of living and standard of living.
What is the Consumer Price Index (CPI)?
If the probability of losing your job remains low, a recession would be a good time to buy a home because the FED usually _____ interest rates.
What is decrease?
Since FedEx, UPS, and the United States Postal Service dominate the package shipping industry, it is this type of market structure. Monopolistic, Monopoly, or Oligopoly
What is an Oliogopoly?
When two nations trade, who benefits.
What is both countries?
Juan uses $5 to purchase two pineapples. Juan is using money as this function of money.
What is a medium of exchange?
When German children were playing with blocks of worthless German currency after WWI. Germany was experiencing this type of inflation.
What is hyperinflation?
One way Fiscal policy is implemented by changing taxes. This can be done by ______.
What is government?
This is the only type of business organization to sell stock and have limited liability. Sole Proprietorship, Partnership, or Corporation
What is a Corporation?
People with lower incomes pay the same % of their incomes in taxes as people with higher income. This type of tax is a _________ tax.
What is proportional tax?
Gus works in the government-owned pineapple canning factory. The government also provides Gus with a place to live and health insurance. The economic goal being met is ____.
What is security?
This type of unemployment occurs when a factory relocates to another country or you are replaced by technology.
What is structural unemployment?
If expansionary monetary policy is being used, this group would lower the reserve requirements.
What is the Federal Reserve?
A merger between two or more firms competing in the same industry (for example if Domino's and Papa John's joined together). Vertical Merger, Horizontal Merger, or Conglomerate
What is a Horizontal Merger?
Carlos cannot afford a T-shirt and video game. This is an example of not having enough resources.
What is scarcity?
Gus quits his job at the pineapple factory to become a private investigator. Gus most likely lives in _____ economic system.
What is market?
If the price of coffee beans goes up and Starbucks raises the price of their coffee, it is cause of inflation.
What is cost push inflation?
When the FED is trying to fight high unemployment, interest rates would be ____.
What is decreased?
The restaurant industry has low barriers to entry, lots of sellers, and some price control. It is an example of which of the following types of competition. Monopoly, Oligopoly, and Monopolistic.
What is Monopolistic Competition?
While shopping at the mall, Madeline will only purchase a pair of jeans if the price is acceptable to her. This is an example of this economic concept.
What is voluntary exchange?