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Product code Economics-Quizlet231

1Q-A car used by a messenger service is a type of

2Q-Another term for a capitalist system is a

3Q-Every purchase decision involves the use of two scarce resources: _________ and __________

4Q-Mortgages are offered by all of the following except
A. Credit unions
B. Savings and loan associations
C. Savings banks
D. Consumer finance companies

5Q-An advantage of home ownership is

6Q-The largest stock exchange in the world is the

7Q-According to the law of demand, when the price of an item goes up, the quantity demanded

8Q-According to the law of supply, higher prices prompt producers to

9Q-Unlimited liability means that

10Q-All of the following are characteristics of a monopoly except
A. a single seller
B. complete control of market price
C. barriers to entry
D. Presence of many competing firms

11Q-The purpose of marketing is to

12Q-The Taft-Hartley Act of 1947

13Q-The part of the business cycle in which the economy starts to slow down is called

14Q-During the 1930s, the United states experienced

15Q-The Federal Reserve has the power to

16Q-A reserve requirement is 20% means that

17Q-Some people oppose government assistance because they believe it

18Q-High unemployment is usually a sign that

19Q-Depreciation of the Japanese yen would make the Japanese products sold in the United States

20Q-Until recently, prices in Russia were set by

21Q-Which of the following is not a developing nation?
A. Bolivia
B. Botswana
C. New Zealand
D. Thailand

22Q-E-commerce involves

23Q-What is the difference between fiscal policy and monetary policy? When are they used?

24Q-What do sellers in monopolistic competition and sellers in oligopolies have in common? What are the differences between them?


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1Q-A car used by a messenger service is a type of 1A-Capital

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