A mixed-market economy is one in which
  • there is competition and free enterprise.
  • the end of a recession.
  • meet a social need and improve the economy.
  • kept by banks for a longer time period.
The higher a country's gross domestic product (GDP), the more likely it is that the country
  • petroleum
  • It can decrease inflation.
  • is developed.
  • March 2013.
What is one example of a closed economy?
  • Governments are able to exert control over the value of fiat money.
  • A country decides to grow wheat and when another country raises cattle.
  • It can be easily liquidated.
  • a restricted system that blocks trade with international partners
Which factors influence changes in consumer demand? Check all that apply.
  • monitoring election resultsmeasuring what the economy produces
  • changes in employment levels
  • elasticityclearance salesincome
  • maximize profits at little risk.
The graph shows the price of a good compared to the quantity demanded.This graph demonstrates how
  • monitoring election resultsmeasuring what the economy produces
  • purchasing power paritytrade volumesgross domestic product
  • choosing to grow both fruit varieties or only apples.
  • the amount consumed greatly changes with the price.
When it spends money on education, a government is trying to
  • the US dollar has declined in value.
  • meet a social need and improve the economy.
  • Supply is less than demand.Supply is greater than demand.
  • eventually increases as production decreases.
When the government injects money into the economy, consumers may have more purchasing power, which may result in
  • reduced government spending
  • increases in production.
  • changes in employment levels
  • as needed
When artists pass away, the supply of their paintings most likely becomes (blank).
  • is developed.
  • elasticityclearance salesincome
  • elastic
  • the OCC.
Demand-pull inflation occurs when
  • Profit is the financial gain from business activity minus expenses.
  • choosing to grow both fruit varieties or only apples.
  • consumers show an interest in purchasing more goods.
  • Governments are able to exert control over the value of fiat money.
What is the best definition of profit?
  • giving up an opportunity to do something else when making an economic decision
  • a gradual expansion in the price of goods and services
  • It can be easily liquidated.
  • Profit is the financial gain from business activity minus expenses.
When does government regulate producers in a mixed-market economy?
  • is developed.
  • as needed
  • government spending.
  • increases in production.
The chart shows the marginal cost of producing apple pies.This chart demonstrates that the marginal cost
  • meet a social need and improve the economy.
  • increases in production.
  • monitoring election resultsmeasuring what the economy produces
  • eventually increases as production decreases.
Read the format of an outline for an informative essay._____________________A. Thesis statementSubtopic body sentenceA. EvidenceB. EvidenceSubtopic body sentenceA. EvidenceB. EvidenceWhich item would best fill in the blank space?
  • Introduction
  • March 2013.
  • petroleum
  • total output
If Country A is an agricultural country and Country B has many cities and factories, it would make sense for
  • eventually increases as production decreases.
  • the amount consumed greatly changes with the price.
  • A country decides to grow wheat and when another country raises cattle.
  • Country A to specialize in growing corn while Country B specializes in making cars.
A certificate of deposit pays a higher interest rate than a savings account because the money is
  • kept by banks for a longer time period.
  • reduced government spending
  • eventually increases as production decreases.
  • the US dollar has declined in value.
President Roslin of Country XYZ knows that a new policy is needed to help solve the problem of rising unemployment in her nation. Her next step is to
  • Ceilings
  • is developed.
  • increases.
  • develop a plan.
If expansionary taxation policies are left unchecked, which is the most likely result?
  • the US dollar has declined in value.
  • reduced government spending
  • changes in employment levels
  • increases in production.
What do the indicators used by economists reveal about the economy?
  • by decreasing trade barriers
  • increases in production.
  • It can decrease inflation.
  • changes in employment levels
Which economic indicators are used to measure the global economy? Check all that apply.
  • purchasing power paritytrade volumesgross domestic product
  • a gradual expansion in the price of goods and services
  • A country decides to grow wheat and when another country raises cattle.
  • monitoring election resultsmeasuring what the economy produces
Corporate taxes are a type of
  • any economic growth or shrinkage.
  • limited resources
  • income tax
  • It can be easily liquidated.
Which organization created a shared economy?
  • Ceilings
  • European Union
  • limited resources
  • decreases
A regulatory agency that attempts to limit risk in the banking system is
  • changes in employment levels
  • the OCC.
  • refer back to the thesis.
  • as needed
Gross domestic product (GDP) is the value of goods and services produced in a country annually. It can best be described as measuring an economy's
  • the US dollar has declined in value.
  • as needed
  • total output
  • Introduction
Economists use GDP to measure
  • the end of a recession.
  • any economic growth or shrinkage.
  • production cost; opportunity cost
  • by decreasing trade barriers
Why is the slow growth that can result from a contractionary policy a positive effect?
  • It can be easily liquidated.
  • changes in employment levels
  • increases in production.
  • It can decrease inflation.
Jacob is considering buying a new car. Which nonrenewable resource should influence the decision?
  • the OCC.
  • petroleum
  • elastic
  • as needed
What is one cause of scarcity?
  • changes in employment levels
  • It can be easily liquidated.
  • the end of a recession.
  • limited resources
The Fed's aim in responding to a recession is to decrease
  • Governments are able to exert control over the value of fiat money.
  • government spending.
  • refer back to the thesis.
  • as needed
The graph shows a point of equilibrium.What is the price at which equilibrium is achieved?
  • March 2013.
  • It can decrease inflation.
  • $9
  • eventually increases as production decreases.
Embargoes, quotas, and standards are tools that countries use
  • It can be easily liquidated.
  • maximize profits at little risk.
  • government spending.
  • to punish other countries.
The primary purpose of a conclusion in an informative essay is to
  • reduced government spending
  • government spending.
  • by decreasing trade barriers
  • refer back to the thesis.
Total output is a synonym for
  • any economic growth or shrinkage.
  • government spending.
  • Gross Domestic Product
  • the end of a recession.
How do trade agreements help the countries involved?
  • refer back to the thesis.
  • It can be easily liquidated.
  • changes in employment levels
  • by decreasing trade barriers
In a free market system, price controls can include both floors and (blank)
  • the OCC.
  • increases.
  • develop a plan.
  • Ceilings
If it becomes less expensive to travel overseas from the United States, American tourists are benefiting from the fact that
  • kept by banks for a longer time period.
  • reduced government spending
  • meet a social need and improve the economy.
  • the US dollar has declined in value.
Which best describes an opportunity cost?
  • Profit is the financial gain from business activity minus expenses.
  • a gradual expansion in the price of goods and services
  • Supply is less than demand.Supply is greater than demand.
  • giving up an opportunity to do something else when making an economic decision
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