What is What is paper currency issued during the Civil War?
Green Back
100
A period of Microeconomics expansion followed by a period of contraction
What is business cycle
100
The maximum output that an economy can produce without big increases in inflation
What is productive capacity
100
The legally bound obligation to pay debt
What is liability
100
The expenses a firm must pay before it can began to produce and sale goods
What is start up cost
200
What is What is wide spread panic in which great numbers of people tried to redeem their paper money?
Bank run
200
The process used to produce a good or service
What is technology
200
A situation in which the government takes in more than it spends
What is budget surplus
200
Partnership in which all partners are limited partners
What is limited liability partnership
200
A market dominated by a single seller
What is monopoly
300
What is Money that has value because the government has order that it is an acceptable means to pay debt
Fiat money
300
The part of the economy that involves the transactions of individuals and businesses
What is private sector
300
Fiscal policy like higher spending and tax cuts that encourage economic growth
What is expansionary policy
300
Corporation that sales stock on the open market
What is publicity held corporation
300
The ability of a company to change prices and output like a monopolist
What is market power
400
What is a means for comparing the values of goods and services
Unit of account
400
A situation in which the market does not distribute resources efficiently
What is market failure
400
A school of economics that believes tax cuts can help an economy by raising the flags
What is supply-side-economics
400
Payment other than wages and salary
What is fringe benefits
400
A market structure in which many companies sale products that are similar but not identical
What is monopolistic competition
500
Objects that have value in themselves and that are also used as money
What is commodity money
500
An economic side effect of a good or service that generates benefits or cost to someone other than the person deciding how much to produce or to consume
What is expernality
500
A situation in which a government spends more than it takes in
What is budget deficient
500
The combination of two or more firms competing in the same market with the same good or service
What is horizontal merger
500
A market structure in which a few larger firms dominate a market