Economics Final, Economics Quiz 1, Economics
Test (1), Economics Quiz 2, Plato Economics,
Econ Unit 3 Money and the Federal Reserve,
Econ Unit 3 Taxation, Q4 Unit 1: Government
(Taxation), Econ Unit 3 The Role of the
Government .
flexible prices: increasing AD will lead to inflation
- long-run view
- vertical supply curve ( constant GDP but increasing
inflation)
- government should only encourage supply-side
policies
,Keynesian Economics
<<<100%CorreCtanswers>>belief that fiscal and
monetary policy WILL stabilize the economy...
Keynesian thinkers want government intervention.
- sticky prices: increasing AD will not lead to inflation
- short-run view
- horizontal supply curve (constant price level but
increasing GDP)
- government should encourage demand-side
policies
Classical Approaches
<<<100%CorreCtanswers>>spurred from idea
that government needs to create supply-side policies
to shift a nations's production possibilities frontier,
exhibited by the LRAS.
1) increase quantity/ quality of physical capital
(encourage maintaining and updating capital)
,2) increase quantity/ quality of human capital
(encourage knowledge/ skill building
3) increase quantity/ quality of natural resources
( encourage using resources efficiently)
4) increase level of technology
( encourage creativity/ development)
What are some advantages of a Corporation?
<<<100%CorreCtanswers>>easy to raise capital,
hire managers, limited liability, unlimited life
What are some disadvantages of a Corporation?
<<<100%CorreCtanswers>>difficulty of gaining
charter, stockholders have little to say, double
taxation, government regulation
What do Labor Organizations do?
<<<100%CorreCtanswers>>promote labor
, What do Labor Unions do?
<<<100%CorreCtanswers>>represent workers
interests, collective bargaining
Define what Demand is.
<<<100%CorreCtanswers>>principle that
describes a consumer's desire or willingness to pay
for a price of a specific good or service
What is economics?
<<<100%CorreCtanswers>>the branch of
knowledge concerned with the production,
consumption, and transfer of money
What is scarcity?
<<<100%CorreCtanswers>>fundamental
economic problem, limited resources
Test (1), Economics Quiz 2, Plato Economics,
Econ Unit 3 Money and the Federal Reserve,
Econ Unit 3 Taxation, Q4 Unit 1: Government
(Taxation), Econ Unit 3 The Role of the
Government .
flexible prices: increasing AD will lead to inflation
- long-run view
- vertical supply curve ( constant GDP but increasing
inflation)
- government should only encourage supply-side
policies
,Keynesian Economics
<<<100%CorreCtanswers>>belief that fiscal and
monetary policy WILL stabilize the economy...
Keynesian thinkers want government intervention.
- sticky prices: increasing AD will not lead to inflation
- short-run view
- horizontal supply curve (constant price level but
increasing GDP)
- government should encourage demand-side
policies
Classical Approaches
<<<100%CorreCtanswers>>spurred from idea
that government needs to create supply-side policies
to shift a nations's production possibilities frontier,
exhibited by the LRAS.
1) increase quantity/ quality of physical capital
(encourage maintaining and updating capital)
,2) increase quantity/ quality of human capital
(encourage knowledge/ skill building
3) increase quantity/ quality of natural resources
( encourage using resources efficiently)
4) increase level of technology
( encourage creativity/ development)
What are some advantages of a Corporation?
<<<100%CorreCtanswers>>easy to raise capital,
hire managers, limited liability, unlimited life
What are some disadvantages of a Corporation?
<<<100%CorreCtanswers>>difficulty of gaining
charter, stockholders have little to say, double
taxation, government regulation
What do Labor Organizations do?
<<<100%CorreCtanswers>>promote labor
, What do Labor Unions do?
<<<100%CorreCtanswers>>represent workers
interests, collective bargaining
Define what Demand is.
<<<100%CorreCtanswers>>principle that
describes a consumer's desire or willingness to pay
for a price of a specific good or service
What is economics?
<<<100%CorreCtanswers>>the branch of
knowledge concerned with the production,
consumption, and transfer of money
What is scarcity?
<<<100%CorreCtanswers>>fundamental
economic problem, limited resources
