Economic Measurement
The country leading the world in GDP.
What is the United States?
The US government historically has a _____ role in their economy compared to other countries.
What is limited?
The organization of a market is based on the number of businesses competing for sales in an industry.
What is market structure?
The last depression the United States had.
What is the Great Depression?
The Milwaukee Bucks have __ NBA Championships.
The market value of all final products produced in a country during a specific period of time.
What is GDP?
One business has complete control over a market's goods and services.
What is a monopoly?
The lowest stage of the business cycle is where expansion follows.
What is the trough?
The inning when "Take Me Out to the Ball Game" is traditionally sung.
It is good for a country to have a _____ GDP?
What is growing?
This regulates the supply of money and interest rates by a central bank.
What is monetary policy?
What is an oligopoly?
Increase in consumer demand, businesses respond with an increase in production.
What is expansion?
The lowest seed to win March Madness.
What is the 8-seed?
GDP of a nation divided by its population.
What is per capita GDP?
Nothing causes a society to go down faster than the erosion of ____________.
What is the criminal system?
A large number of businesses selling similar products at different prices.
What is imperfect competition (monopolistic competition)?
In a depression, there is over ___% unemployment.
What is 20%?
This NFL team has never won or hosted a Super Bowl.
Who are the Cleveland Browns?
What is net exports?
When businesses work together to remove competition, set prices, and control distribution.
What is collusion?
A large number of businesses selling the same product at the same price.
What is perfect competition?
In Mr. Martin's farming story working in the _______ is really important.
What is summer?
This coach came off the bench to play for his team in the Stanley Cup finals.
Who is Lester Patrick?