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5 Written questions

5 Matching questions

  1. voluntary exchange
  2. World Trade Organization (WTO)
  3. easy money policy
  4. deflation
  5. credit union
  1. a act of buyers and sellers freely and willingly engaging in market transactions;characteristic of capitalism and free enterprise
  2. b monetary policy resulting in lower interest rates and greater access to credit (associated with an expansion of the money supply)
  3. c international agency that administers trade agreements, settles trade disputes between governments, organizes trade negotiations, and provides technical assistance and training for developing countries
  4. d non profit service cooperative that accepts deposits, makes loans, and provides other financial services
  5. e decrease in the general level of the prices of goods and services

5 Multiple choice questions

  1. social science dealing with the study of how people satisfy seemingly unimited and competing wants with the careful use of scarce resources
  2. interest rate that the federal reserve system charges on loans to the nation's financial institution
  3. price where quantity supplied equals quantity demanded;price that clears the market
  4. labor union whose workers perform the same kind of work as a trade union
  5. the goods and services that a nation produces and then sells to other nations

5 True/False questions

  1. depressiongradual wear on capital goods during production


  2. current GDPperson or institution to whom money is owed


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


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


  5. discretionary spendingannual government spending in excess of taxes and other revenues


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