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Study sets matching "economics chapter 9"

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Study sets matching "economics chapter 9"

13 terms
Economics - Chapter 9
Unskilled Labor
Semi-Skilled Labor
Skilled Labor
Professional Labor
Labor that requires no specialized skills, education, or trai…
Labor that requires minimal specialized skills and education
Labor that requires specialized skills and training
Labor that requires advanced skills and education
Unskilled Labor
Labor that requires no specialized skills, education, or trai…
Semi-Skilled Labor
Labor that requires minimal specialized skills and education
13 terms
Economics - Chapter 9
Unskilled Labor
Semi-Skilled Labor
Skilled Labor
Professional Labor
Labor that requires no specialized skills, education, or trai…
Labor that requires minimal specialized skills and education
Labor that requires specialized skills and training
Labor that requires advanced skills and education
Unskilled Labor
Labor that requires no specialized skills, education, or trai…
Semi-Skilled Labor
Labor that requires minimal specialized skills and education
30 terms
Economics chapter 9-16
durability
standard of value
check
First Bank of the United States
Characteristic of money; A dollar bill can be used many times…
We can compare the price of similar items in different stores…
When we need money from our bank account, we write an order t…
People in the new United States wanted a stable money supply,…
durability
Characteristic of money; A dollar bill can be used many times…
standard of value
We can compare the price of similar items in different stores…
20 terms
Chapter 9 Economics Vocabulary
Labor force
Learning effect
Screening effect
Contingent employment
all nonmilitary people who are employed or unemployed
the theory that education increases productivity and results…
the theory that the completion of college indicates to employ…
a temporary or part-time job
Labor force
all nonmilitary people who are employed or unemployed
Learning effect
the theory that education increases productivity and results…
21 terms
Economics Chapter 9
labor productivity
wages
equilibrium wage
derived demand
the value of the goods and services a worker can produce in a…
payments received in return for work
the wage at which the quantity of workers demand equals the q…
a demand for a product or resource based on its contribution…
labor productivity
the value of the goods and services a worker can produce in a…
wages
payments received in return for work
27 terms
BJU Economics Chapter 9
Define Market
Define Competition
Define Industry
What are 4 ways to distinguish an indu…
An arrangement or system that people have developed for tradi…
The struggle each firm experiences as it seeks to survive and…
The sector of an economy made up of manufacturing enterprises
1. Number of firms... 2. Product differences ... 3. Control of pric…
Define Market
An arrangement or system that people have developed for tradi…
Define Competition
The struggle each firm experiences as it seeks to survive and…
24 terms
Economics: Chapter 9
Labor Force
Outsourcing
Offshoring
Learning Effect
all nonmilitary people who are employed or unemployed
the practice of contracting with another company to do a spec…
the movement of some of a company's operations to another cou…
the theory that education increases efficiency of production…
Labor Force
all nonmilitary people who are employed or unemployed
Outsourcing
the practice of contracting with another company to do a spec…
39 terms
Economics Chapter 9
______________________ is when a third…
An arbitrator's decision ( is / is not…
If this occurs, both sides are require…
This is when management refuses to let…
ARBITRATION
IS
ARBITRATION
LOCKOUT
______________________ is when a third…
ARBITRATION
An arbitrator's decision ( is / is not…
IS
35 terms
Economics Chapter 9 Vocabulary
Sin Tax
Incidence Of Tax
Individual Income Tax
Sales Tax
A high tax designed to raise revenue and discourage consumpti…
The final burden of tax.- Who ends up paying tax
The federal tax levied on the wages, salaries, and other inco…
general state or city tax levied on a product at the time of…
Sin Tax
A high tax designed to raise revenue and discourage consumpti…
Incidence Of Tax
The final burden of tax.- Who ends up paying tax
13 terms
Economics-Chapter 9
Unemployment rate
Fractional unemployment
Structural unemployment
Cyclical unemployment
the number of unemployed divided by the total number of peopl…
workers who are "between jobs"
change in society that reduces demand for workers and their s…
swings in the business cycle; recession
Unemployment rate
the number of unemployed divided by the total number of peopl…
Fractional unemployment
workers who are "between jobs"
15 terms
Economics Principles and Practices Chapter 9
Sin Tax
Tax loopholes
Individual Income Tax
Sales Tax
Relatively high tax disguised to raise revenue and discourage…
Exceptions or oversight in the tax law allowing a tax payer t…
Federal tax levied on the wages, salaries, and other income o…
General state or city tax levied on a product at the time of…
Sin Tax
Relatively high tax disguised to raise revenue and discourage…
Tax loopholes
Exceptions or oversight in the tax law allowing a tax payer t…
47 terms
Economics/Chapter 9 Terms
board of directors
business association
business ethics
business franchise
a governing body of a corporation elected by the shareholders.
an organization that represents the interests of businesspeop…
principles of right and wrong that guide the actions of a com…
an arrangement in which a parent company, or franchiser, dist…
board of directors
a governing body of a corporation elected by the shareholders.
business association
an organization that represents the interests of businesspeop…
10 terms
Chapter 9 Economics
labor union
strike
right to work law
blue collar worker
An organization of workers that tries to improve working cond…
An organized work stoppage intended to force an employer to a…
A measure that bans mandatory union membership.
Someone who works in an industrial job, often in manufacturin…
labor union
An organization of workers that tries to improve working cond…
strike
An organized work stoppage intended to force an employer to a…
30 terms
Economics Chapter 9
market structure
perfect competition
large market
easy entry and exit
extent to which competition prevails in particular markets
market situation in which no single buyer or seller can affec…
situation in which numerous buyers and sellers exist for a pr…
situation in which the initial costs of investment are small
market structure
extent to which competition prevails in particular markets
perfect competition
market situation in which no single buyer or seller can affec…
24 terms
Economics- Chapter 9
Labor force
Outsourcing
Offshoring
Learning effect
all nonmilitary people who are employed or unemployed.
the practice of contracting with another company to do a spec…
the movement of some of a company's operations to another cou…
the theory that education increases efficiency of production…
Labor force
all nonmilitary people who are employed or unemployed.
Outsourcing
the practice of contracting with another company to do a spec…
25 terms
Economics Chapter 9 Review
benefits
examples of work benefits
collective barganing
equilibrium wage
part of an employee's compensation other than wages or salary…
- Retirement plans... - Health plans... - Dental or vision plans... -…
The right of unions to negotiate with employers over wages an…
the wage rate that produces neither an excess supply of worke…
benefits
part of an employee's compensation other than wages or salary…
examples of work benefits
- Retirement plans... - Health plans... - Dental or vision plans... -…
40 terms
Economics Chapter 9
learning effect
screening effect
contingent employment
farm worker
theory that education increases productivity and results in h…
theory about the relationship of education to wages
temporary and part time jobs
What job was held by most workers in the US at the founding o…
learning effect
theory that education increases productivity and results in h…
screening effect
theory about the relationship of education to wages
43 terms
Macro Economics - Chapter 9
loanable funds market
Figure 9.1 illustrates the role of the…
Figure 9.2 shows the production timeli…
An interest rate is a
is the market where savers supply funds for loans to borrowers
The market for loanable funds is where savers bring funds and…
The production timeline illustrates that GDP depends critical…
price of loanable funds. It is like the price of toothpaste o…
loanable funds market
is the market where savers supply funds for loans to borrowers
Figure 9.1 illustrates the role of the…
The market for loanable funds is where savers bring funds and…
10 terms
Measures of economic performance: economic growth - Chapter 9
Macroeconomics
Nominal value
Real value
Index number
The study of the interrelationships between economic variable…
The value of an economic variable based on current prices, ta…
The value of an economic variable, taking account of changing…
A device for comparing the value of a variable in one period…
Macroeconomics
The study of the interrelationships between economic variable…
Nominal value
The value of an economic variable based on current prices, ta…
10 terms
Holt Economics Chapter 9
balance
liquidity
time deposits
savings rate
This is the amount of money in an account.
This is when assets such as an account can be converted into…
These require the saver to leave money in the account for a s…
This is the percentage of people's disposable income- money a…
balance
This is the amount of money in an account.
liquidity
This is when assets such as an account can be converted into…
24 terms
Economics Chapter 9 Vocabulary
Labor Force
Outsourcing
Offshoring
Learning Effect
All nonmilitary people who are employed or unemployed.
The practice of contracting with another company to do a spec…
The movement of some of a company's operations to another cou…
The theory that education increases efficiency of production…
Labor Force
All nonmilitary people who are employed or unemployed.
Outsourcing
The practice of contracting with another company to do a spec…
77 terms
Economics- chapter 9~14
Disposable income
Wealth effect
Conspicuous Consumption
Interest rates (spend)
The amount of income leftover, after paying for all the tax a…
People's wealth is based on their assets, so for example, if…
People often spend a lot of their money to prove their wealth…
When these go up, consumption goes down, and vice versa.
Disposable income
The amount of income leftover, after paying for all the tax a…
Wealth effect
People's wealth is based on their assets, so for example, if…
48 terms
Chapter 9 Regional Economic Integration
Regional Economic Integration
Rise
Between
Levels of Economic Integration
Agreements between countries in a geographic region to reduce…
Regional Economic Integration benefits all. Over the last 2 d…
Regional Economic Integration could be a bad thing, some are…
1. Free Trade Area... 2. Customs Union... 3. Common Market... 4. Econo…
Regional Economic Integration
Agreements between countries in a geographic region to reduce…
Rise
Regional Economic Integration benefits all. Over the last 2 d…
25 terms
Abeka Economics Chapter 9
money
to be a medium of exchange... to provide…
barter
portability, durability, homogeneity,…
term for anything that is generally accepted as a means of pa…
three principal purposes or functions of money
term for the direct exchange of one good for another good wit…
six characteristics of an ideal money
money
term for anything that is generally accepted as a means of pa…
to be a medium of exchange... to provide…
three principal purposes or functions of money
19 terms
Economics Chapter 9
noninstallment
installment credit
principal
revolving open-end credit
credit that is extended for a short term, such as 30 days or…
used for specific purchases but allows the borrower more time…
the total amount of money outstanding on the loan
allows consumers to borrow up to some preset maximum amount,…
noninstallment
credit that is extended for a short term, such as 30 days or…
installment credit
used for specific purchases but allows the borrower more time…
36 terms
Economics MGH Chapter 9
sin tax
incidence of a tax
tax loophole
individual income tax
relatively high tax designed to raise revenue and discourage…
final burden of a tax; who is actually paying the tax
exception or oversight in the tax law allowing a taxpayer to…
federal tax levied on the wages, salaries, and other income o…
sin tax
relatively high tax designed to raise revenue and discourage…
incidence of a tax
final burden of a tax; who is actually paying the tax
34 terms
Economics Chapter 9 Vocabulary
Sin tax
Incidence tax
Tax loophole
Individual income tax
relatively high tax designed to raise revenue and discourage…
final burden of a tax
exception or oversight in the tax law allowing taxpayer to av…
tax levied on the wages, salaries, and other income of indivi…
Sin tax
relatively high tax designed to raise revenue and discourage…
Incidence tax
final burden of a tax
21 terms
Economics Chapter 9
What is a labor force?
Besides the age requirement (16 or old…
What are the criteria for someone to b…
What types of people are outside the l…
All nonmilitary people who are employed or unemployed.
Worked 1 hour for pay in the last week or worked 15 or more h…
Temporarily not working or has looked for a job in the last 4…
Full time students, stay at home parents, retirees, and disco…
What is a labor force?
All nonmilitary people who are employed or unemployed.
Besides the age requirement (16 or old…
Worked 1 hour for pay in the last week or worked 15 or more h…
12 terms
Economics Chapter 9
check
canceled check
overdraft
floating a check
is a written order to a bank to pay the stated amount
a check that you canceled
a check written for more money than your account contains
waiting to send someone money
check
is a written order to a bank to pay the stated amount
canceled check
a check that you canceled
43 terms
Economics Chapter 9
labor union
strike
picket
boycott
an organization of workers that tries to improve working cond…
union organized work stoppage intended to force an employer t…
demonstrate or march before a place of business to protest a…
mass refusal to buy products from targeted employers or compa…
labor union
an organization of workers that tries to improve working cond…
strike
union organized work stoppage intended to force an employer t…
36 terms
Economics: Principles and Practice | Chapter 9
Sin Tax
Incidence of a Tax
Tax loopholes
Individual Income Tax
Relatively high tax disguised to raise revenue and discourage…
Final burden of a tax
Exceptions or oversight in the tax law allowing a tax payer t…
Federal tax levied on the wages, salaries, and other income o…
Sin Tax
Relatively high tax disguised to raise revenue and discourage…
Incidence of a Tax
Final burden of a tax
34 terms
Economics Chapter 9
misery index
employed
unemployed
labor force
term made up by Arthur Okun, which adds together the inflatio…
people are considered employed if they worked during a week b…
in the government statistics, someone who is not currently at…
sum of employed and unemployed workers in the economy
misery index
term made up by Arthur Okun, which adds together the inflatio…
employed
people are considered employed if they worked during a week b…
37 terms
Economics - Chapter 9 vocab
Disposable Income
Balance
Liquidity
Time Deposits
The money a person has after taxes have been paid
1) the amount on the credit side of an account; 2) the differ…
The ease with which an individual or a business can convert a…
Usually a deposit in a bank that earns interest and must rema…
Disposable Income
The money a person has after taxes have been paid
Balance
1) the amount on the credit side of an account; 2) the differ…
35 terms
Economics Chapter 9
Sin Tax
Incidence of a Tax
Tax Loopholes
Individual income tax
A relatively high tax designed to raise revenue while reducin…
The final burden of the tax or the one who has to pay the tax.
exceptions or oversights in the tax law that allow some peopl…
The federal tax on people's earnings.
Sin Tax
A relatively high tax designed to raise revenue while reducin…
Incidence of a Tax
The final burden of the tax or the one who has to pay the tax.
28 terms
Economics Chapter 9
the three criteria for effective taxes…
the two principles of taxation are the…
a regressive tax imposes a lower perce…
the two largest sources of revenue for…
false
true
false
true
the three criteria for effective taxes…
false
the two principles of taxation are the…
true
20 terms
Economics - Chapter 9 Vocabulary
labor force
learning effect
screening effect
contingent employment
all nonmilitary people who are employed or unemployed
the theory that education increases productivity and results…
the theory that the completion of college indicates to employ…
a temporary or part-time job
labor force
all nonmilitary people who are employed or unemployed
learning effect
the theory that education increases productivity and results…
13 terms
Chapter 9 Economics
budget
earn
product
economic choice
plan that shows income, spending, and saving
to get paid for working
a good or a service
decision to buy one thing rather than another
budget
plan that shows income, spending, and saving
earn
to get paid for working
15 terms
Economics Chapter 9 Vocab
closed shop
white collar
arbitration
featherbedding
a workplace that hires only union workers
a professional who usually receives a salary
a technique involving a legally binding, thirdparty decision…
involves contract negotiations that keep unnecesarry workers…
closed shop
a workplace that hires only union workers
white collar
a professional who usually receives a salary
20 terms
Economics Chapter 9
usury
finance charge
disposable income
installments
charging interest above the legal limit
the total cost of credit expressed in dollars and cents
the money people have available after taxes have been paid
equal amounts into which payments of a loan are divided
usury
charging interest above the legal limit
finance charge
the total cost of credit expressed in dollars and cents
35 terms
review chapter 9 economics Bob Jones
steel
ease of entry
milk, corn, wheat
an arrangement that people make for tr…
In what industry did Andrew Carnegie earn his wealth?
One characteristic of perfect competition is ?
Name some products which are not easily differentiated
What is the definition of a market from an economic's point o…
steel
In what industry did Andrew Carnegie earn his wealth?
ease of entry
One characteristic of perfect competition is ?
12 terms
Chapter 9: Consumer Choice and Behavioral Economics
Utility
Marginal utility (MU)
Law of diminishing marginal utility
Income effect
The enjoyment or satisfaction people receive from consuming g…
The change in total utility a person receives from consuming…
The principle that consumers experience diminishing additiona…
The change in the quantity demanded of a good that results fr…
Utility
The enjoyment or satisfaction people receive from consuming g…
Marginal utility (MU)
The change in total utility a person receives from consuming…
20 terms
Chapter 9 Economics
Labor force
Learning effect
Screening effect
Contingent employment
all nonmilitary people who are employed or unemployed
the theory that education increases productivity and results…
the theory that the completion of college indicates to employ…
a temporary or part-time job
Labor force
all nonmilitary people who are employed or unemployed
Learning effect
the theory that education increases productivity and results…
41 terms
Economics Chapter 9
Labor
Labor Market Trends (Occupational)
Effects of International Competition
Occupational Trends
Productive activity for economic gain. Physical or mental exe…
Agricultural to Industrial Revolution to boom in electronics…
Manufacturing jobs decrease. Workers laid off due to closings…
Creative Destruction & Labor. Relationship of business & labo…
Labor
Productive activity for economic gain. Physical or mental exe…
Labor Market Trends (Occupational)
Agricultural to Industrial Revolution to boom in electronics…
10 terms
Measures of economic performance: economic growth (Chapter 9)
Macroeconomics
Nominal value
Real value
Index number
The study of the interrelationships between economic variable…
The value of an economic variable based on current prices, ta…
The value of an economic variable, taking account of changing…
A device for comparing the value of a variable in one period…
Macroeconomics
The study of the interrelationships between economic variable…
Nominal value
The value of an economic variable based on current prices, ta…
9 terms
Survey of Economics, Chapter 9
antitrust
free rider
optimal mix of output
emission charge
Government intervention to alter market structure or prevent…
An individual who reaps direct benefits from someone else's p…
The most desirable combination of output attainable with exis…
A fee imposed on polluters, based on the quantity of pollution.
antitrust
Government intervention to alter market structure or prevent…
free rider
An individual who reaps direct benefits from someone else's p…
22 terms
Chapter 9 Economics
Money
Barter
Specie
Face value
Anything that is generally accepted as forms of payment
The direct exchange of one good for another good without a st…
Coined metallic money
The asserted value
Money
Anything that is generally accepted as forms of payment
Barter
The direct exchange of one good for another good without a st…
26 terms
Economics Chapter 9 and 10
Accounting Profit
Economic Profit
Positive Economic Profit
Negative Economic Profit
The total revenue minus costs, properly chargeable against go…
The difference between the total revenue received by the firm…
Over the long-run, if firms in a perfectly competitive market…
When price is less than average total cost, firms are making…
Accounting Profit
The total revenue minus costs, properly chargeable against go…
Economic Profit
The difference between the total revenue received by the firm…
20 terms
Economics Chapter 9 Vocab
Labor Force
Learning Effect
Screening Effect
Contingent Employment
All nonmilitary people who are employed or unemployed
The theory that education increases productivity and results…
the theory that the completion of college indicates to employ…
A temporary or part-time job
Labor Force
All nonmilitary people who are employed or unemployed
Learning Effect
The theory that education increases productivity and results…
101 terms
Economics chapter 9
MC Qu. 1 ... The GDP is the value of all…
MC Qu. 2 ... Net domestic product is usua…
MC Qu. 16 ... If GDP doubled between 1990…
MC Qu. 149 ... By what percent did real G…
within a nation's boundaries.
excludes depreciation.
It stayed the same.
0
MC Qu. 1 ... The GDP is the value of all…
within a nation's boundaries.
MC Qu. 2 ... Net domestic product is usua…
excludes depreciation.
Economics Chapter 9 Review - Coach Grimm
examples of work benefits
collective barganing
equal employment opportunities commiss…
minimum wage
- Retirement plans... - Health plans... - Dental or vision plans... -…
The right of unions to negotiate with employers over wages an…
The equal right of all citizens to the opportunity to obtain…
minimum price that an employer can pay a worker for an hour o…
examples of work benefits
- Retirement plans... - Health plans... - Dental or vision plans... -…
collective barganing
The right of unions to negotiate with employers over wages an…
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