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5 Written questions

5 Matching questions

  1. customs duty
  2. default
  3. equilibrium price
  4. dividend
  5. euro
  1. a single currency of European Union
  2. b check paid to stockholders, usually quarterly, representing portion of corporate profits
  3. c the act of not repaying borrowed money
  4. d price where quantity supplied equals quantity demanded;price that clears the market
  5. e group of countries that have agreed to reduce trade barriers

5 Multiple choice questions

  1. spending for federal programs that must recieve annual authorization
  2. stage of production where output increases at a decreasing rate as more units of variable input are added
  3. social science dealing with the study of how people satisfy seemingly unimited and competing wants with the careful use of scarce resources
  4. non profit service cooperative that accepts deposits, makes loans, and provides other financial services
  5. form of business organization recognized by law as a seperate legal entity with all the rights and responsibilities of an induvidual, including the right to buy & sell property, enter into legal contracts, and be sued

5 True/False questions

  1. creditornon profit service cooperative that accepts deposits, makes loans, and provides other financial services

          

  2. craft unionnon profit service cooperative that accepts deposits, makes loans, and provides other financial services

          

  3. demandthe act of not repaying borrowed money

          

  4. exportsprohibition on the export or import of a product

          

  5. elasticitytype 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)