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5 Written Questions

5 Matching Questions

  1. economics
  2. externality
  3. cyclical unemployment
  4. dividend
  5. double taxation
  1. a feature of taxation that allows stockholders dividends to be taxed both as corporate profit and as personal income
  2. b unemployment directly related to swings in a business cycle
  3. c check paid to stockholders, usually quarterly, representing portion of corporate profits
  4. d economic side effect that affects an uninvolved third party
  5. e social science dealing with the study of how people satisfy seemingly unimited and competing wants with the careful use of scarce resources

5 Multiple Choice Questions

  1. labor union whose workers perform the same kind of work as a trade union
  2. relaxation or removal of government regulations on business activities
  3. single currency of European Union
  4. group of countries that have agreed to reduce trade barriers
  5. general revenue tax levied on the manufac ture or sale of selected items

5 True/False Questions

  1. equilibrium priceprice where quantity supplied equals quantity demanded;price that clears the market


  2. World Trade Organization (WTO)relaxation or removal of government regulations on business activities


  3. diminishing returnsstage of production where output increases at a decreasing rate as more units of variable input are added


  4. deficient spendingspending for federal programs that must recieve annual authorization


  5. depressionstate of the economy with large numbers of unemployed, declining real incomes, overcapacity in manufacturing, general economic hardships


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