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final 8-13 Flashcards

(63 cards)

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1
Q

The labor force includes approx how many people in US

A

130 million

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2
Q

Which of the following is not included when calculating the labor force?

A

Those who are military personel

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3
Q

which of the following best describes what affects wages

A

supply and demand

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4
Q

who regulates working conditions

A

state and federal regulations

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5
Q

Pride, satisfaction, status, prestige or respect that comes with the job are all examples of

A

intrinsic rewards

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6
Q

Roughly when did the United States become a capital intensive economy

A

late 1700’s

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7
Q

Which of the following is in charge of ensuring equality in the work place?

A

EEOC

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8
Q

Roughly, what is the current minimum wage in Ohio today

A

8

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9
Q

Who was the first leader of the AFL

A

Samuel Gompers

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10
Q

Where, geographically, have unions traditionally been strong

A

midwest

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11
Q

when people choose not to consume their disposable income they are

A

savingq

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12
Q

what are two benefits people gain by saving money

A

security and interest

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13
Q

One reason people save is

A

for unexpected expenses

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14
Q

the amount of money in an account is called the

A

balance

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15
Q

economists measure savings to

A

determine the health of the economy

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16
Q

people invest in stocks to

A

gain a profit

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17
Q

The difference between the higher selling price and the lower original purchase price is the investor’s

A

capital gain

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18
Q

Which of the following has the most liquidity

A

savings account

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19
Q

which of the following is an example of a real investment

A

building an apartment complex on a piece of land

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20
Q

what is important to remember when developing an investment plan

A

diversification

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21
Q

what does estate planning refer to

A

how to handle your finances after you die

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22
Q

who should you contact if you want to by stock

A

investment bank, brokerage firm, stock exchanges

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23
Q

which of the following is the largest stock exchange in the US

A

NYSE

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24
Q

what does the term seat refer to on the stock exchange

A

The ability to trade on the stock exchange

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25
Which of the following are stocks are those that have high quality products and good long term prospects
Blue chip stocks
26
A market which is on a steady rise in the market is known as a
bull market
27
a market which is on a steady decline in the market is known as a
bear market
28
when opening a new credit card which of the following should you first consider
what is the interest rate on the credit card
29
national income accounting is a process used by macroeconomics to track
production, income, consumption
30
which of the following is used to compute the output produced by the four sectors of the product market
output-expedenture model
31
the total value of all goods produced in a nation during one year is that nation's
gross investment
32
gross domestic product adjusted for price changes is known as the
real GDP
33
illegal economic activities and unreported legal economic activities are known as
the underground economy
34
Natural, human, and capital resources and entrepreneurship are all
requirements for economic growth
35
New products, new markets, and new jobs are all created by
entrepreneurs
36
to measure productivity, economists look at
labor productivity
37
which of the following factors have an impact on productivity growth
capital to labor ratio, education and skill of labor force, lvl of technology available
38
when a person receives a wage from their job that is not reported to the federal government or is "under the table" is an example of
the underground economy
39
which of the following would count toward the US GDP
Japanese cars made in america
40
Which of the following is not an influence of the business cycle
GDP
41
workers who want full-time work but are only able to find part time jobs are
underemployed
42
when workers are moving from one job to another, they experience
frictional unemployment
43
unemployment that occurs as a result of changes in technology is called
structural unemployment
44
unemployment that occurs as a result of changes in the way the economy is structured is called
structural unemployment
45
unemployment resulting from recessions and economic downturns is called
cyclical unemployment
46
the number of poor people in the US is determined by
identifying those below the poverty threshold
47
which of the following factors contributes to differences in income
social background
48
a lorenz curve
can be used to compute the Gini Index
49
The growing income gap in the united states stems, in part, from
rapid changes in technology
50
what policies have been suggested to narrow the income gap?
Increasing taxes on the wealthy
51
when in US history did we see a period of deflation
Great depression
52
What level of inflation is considered common
1-3%
53
Roughly what percentage of americans live in the poverty line
15%
54
what functions do commercial banks perform
lend money, accept checking and saving deposits, and transfer money among business, other bank and individuals
55
what is the name of the financial institution that was originally set up to serve people who wished to make small deposits that large commercial banks would not handle?
mutual savings banks
56
in which financial institution do members buy interest bearing shares when they deposit
Credit union
57
The banking deregulation that began in 1980 has led to
increased competition among banks
58
who advocated for the first national bank of the united states
alexander hamilton
59
how long was the initial charter for the 1st national bank of the United States
20 years
60
who vetoed legislation which would have supported the 2nd national bank of the united states
andrew jackson
61
Which of the following is a major success of the fed
created credit to finance WW1
62
Which organization insures banks' accounts up to 100,000
FDIC
63
Who demanded that all banks close until they had been inspected by the federal government
Franklin D Roosevelt

Economics (14 decks)

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