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Economics Test of Tests 2019

Guards against bank failures, insures deposits
Injunctions can be ordered by this
Index created by added together the inflation rate and the unemployment rate
Tax where everyone pays the same percent of their income
Helps create fiscal policy
When there is more demand for a good than supply
two alternative goods that could be used for the same purpose, one being of lesser value
Type of junction which is a legal and equitable remedy in the form of a special court order that compels a party to do or refrain from specific acts
An incorporated business can raise money by selling this
Observation that articles or goods critical to life (such as water) are very cheap, whereas others which have no bearing on human existence (such as diamonds) are very expensive is called the Paradox of
Wear and tear on capital goods
The business cycle is made up of troughs and ____
unemployment is the loss of jobs caused by use of machines
Market situation in which the allocation of goods and services by a free market is not efficient, often leading to a net social welfare loss.
When stock market is moving up
When stock market is moving down
Type of returns used to refer to a point at which the level of profits or benefits gained is less than the amount of money or energy invested.
This enterprise is made up of voluntary exchange, economic freedom, private property rights and profit motive
a measure of the relationship between a change in the quantity demanded of a particular good and a change in its price
When a third party makes a binding decision in negotiations between management and a union
Factor of production created by human effort
The desirable characteristics of money are limited availability, divisibility and
Type of ceiling which keeps women from rising up in a business
Economy marked by high unemployment, acute shortages and excess manufacturing capacity
There is no such thing as a ___ lunch
the loss of potential gain from other alternatives when one alternative is chosen is an opportunity ____
A union which of skilled workers who perform the same kind of task
An economy in which the decisions regarding investment, production and distribution are guided by the price signals created by the forces of supply and demand
A business jointly owned by two or more people
Created by limited resources and unlimited wants
One who assumes the risks of business
Government agency which regulates the stock market
An economy system that relies on customs, history, and time-honored beliefs.
Law that states as prices go up, producers will make more of a product
Tax which tries to discourage certain types of behavior
Creates all paper currency in the United States
a state of limited competition, in which a market is shared by a small number of producers or sellers
Point at which all products produced are consumed; where supply and demand curves cross
Competition in a market in which buyers and sellers are so numerous and well informed that all elements of monopoly are absent and the market price of a commodity is beyond the control of individual buyers and sellers
Inflation of over 500% a year
3% inflation per year
When the aggregate demand in an economy strongly outweighs the aggregate supply, you have demand ____ inflation
Type of money having value or use in themselves (intrinsic value) as well as their value in buying goods.
The share of profits a business gives to its stockholders
Type of unemployment which occurs from people being between jobs
The Federal Reserve has a great deal of control of the nations ____ policy
Good which should last for three years or more
Demand curve moves down and to the ______