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Terms/People
Movie Analysis
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Macro Random
Multiple Choice
300
What is the branch of knowledge concerned with the production, consumption, and transfer of wealth?
What is economics
300
Who were the consumers in Bugs Life?
Who are the grasshoppers?
300
What measures the total income of everyone in the economy.
What is GDP
300
How are goods/services produced?
What is technology, human resources, both, etc.
300
38.The Phillips curve describes the relationship between: a. the federal budget deficit and the trade deficit b. savings and investment c. the unemployment rate and the inflation rate d. marginal tax rates and tax revenues
C
400
What is it called when an event directly alters firms’ costs and prices?
What is a supply shock
400
A period of falling real incomes and rise and unemployment as seen in the movies about the Stock Market crash is called what
What is a recession
400
Henry Ford's introduction of the assembly line into automobile manufacturing is an example of
What is specialization
400
What is a worker in a factory?
What is a human resource
400
An increase in the money supply causes: a. interest rates to fall, investment spending to rise, & aggregate demand to rise b. interest rates to rise, investment spending to rise, & aggregate demand to rise c. interest rates to rise, investment spending to fall, & aggregate demand to fall d. interest rates to fall, investment spending to fall, & aggregate demand to fall
A
500
The customer is always right
What is customer sovereignty
500
Why does Sully decide to walk rather than take Mike’s car?
What is an opportunity cost/economic decision
500
What interaction between two firms, nations, etc, make each other better off?
What is Trade
500
The level of production at which a business realizes the greatest amount of profit is called
What is the profit-maximizing output
500
In a free market __________ ___________ A) governments intervene B) governments plan production C) governments interfere D) prices adjust to reconcile scarcity and desires
D