NAME: ________________________

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of 42 available terms

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5 Written Questions

5 Matching Questions

  1. elastic
  2. easy money policy
  3. craft union
  4. exports
  5. entrepreneur
  1. a monetary policy resulting in lower interest rates and greater access to credit (associated with an expansion of the money supply)
  2. b the goods and services that a nation produces and then sells to other nations
  3. c labor union whose workers perform the same kind of work as a trade union
  4. d type of elasticity where the percentage change in the independent variable (usually price) casues a more than proportionate change in the dependent variable (usually quantity demanded or supplied)
  5. e risk-taking induvidual in search of profits;one of four factors of production

5 Multiple Choice Questions

  1. way in which the nations income is divided among families, induviduals, or oter designated groups
  2. act of buyers and sellers freely and willingly engaging in market transactions;characteristic of capitalism and free enterprise
  3. group of countries that have agreed to reduce trade barriers
  4. the act of not repaying borrowed money
  5. non profit service cooperative that accepts deposits, makes loans, and provides other financial services

5 True/False Questions

  1. deregulationrelaxation or removal of government regulations on business activities

          

  2. double taxationrelaxation or removal of government regulations on business activities

          

  3. demand curvecombination of desire, ability, and willingness to buy a product

          

  4. disposable personal incomeway in which the nations income is divided among families, induviduals, or oter designated groups

          

  5. economic modelset of assumptions in a table, graph, or equations used to describe or explain economic behaviors

          

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