Economics Exam pt 1

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rabon4
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87913
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Economics Exam pt 1
Updated:
2011-05-26 17:06:08
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fun Aaron willy
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study for economics exam 151 questions
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  1. In a free market what helps to keep the prices low?
    Competition
  2. What federal agency insures your bank deposits?
    FDIC
  3. What is a certificate that promises to repay money loan plus intrest?
    Bond
  4. What do you call a buisness that is a legal entity distinct from its owner
    corporation
  5. What does CPI stand for
    Consumer Price Index
  6. What are the four parts of the buisness cycle?
    Expansion Recession Trough Peak
  7. Legal tender backed by nothing but a governments promise?
    Fiat Money
  8. What type of bank account allows their holders to earn intrest on their deposites?
    Savings account
  9. What is the concept of uniting all the people of the World
    globalism
  10. Where did globalism get its start
    tower of bable
  11. What president used suply side economics
    Ronald Regan
  12. What type of inflation is represented by higher food costs
    cost push
  13. What type of inflation would higher gas prices represent?
    demand pull
  14. What is a portion of a corporations stock
    shares
  15. What are the four factors of production
    • labor
    • natural resources
    • entrepreneurship
    • capital
  16. what is the fith factor of production
    information
  17. what is the professed aim of marxism
    equality of outcome
  18. What is the value of the best alternative thats forgone when a different alternative is taken
    opportunity cost
  19. What is a good capable of being used in place of another good
    substitute
  20. what is the place in which the quantity demanded and the quanity supplied are equal
    equalibrium

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