Paper money in the United States is made by the Federal Reserve, also known as The _____
Money created by government decree
Exclusive rights to the process, design or invention for a certain period of exchange for a complete disclosure of the invention
Inflation rate of over 500%
Durable goods last at least this many years
Lowest legal price that can be charged for a product
Type of shop where people must join the union after being hired
Artificial barrier which prevents women from advancing in a company is called a ____ ceiling
Type of monopoly based on ownership or control of a manufacturing method or process
Money which has an alternative use
Alternative that must be given up when one choice is made rather than another is called a trade ___
Allocation of goods and services without use of prices
Office of Management and Budget reports to the ______
Index is a combination of unemployment rate and inflation
Part ownership in a corporation
Real or imagined differences in a products is product______
Supply which does not react to a change in prices is called ___elastic
A combination of businesses which unfairly limit competition
Increasing the amount of money in circulation without an increase in the amount of goods and services will cause this
Oligopoly is when a ___ producers dominate a market
Unemployment caused by swings in the business cycle
Government controlled economy
Unemployment caused by annual changes in the weather
Agreeing to sell a stock in the future at a set price is often called a ___ sale
Supply that reacts to a change in price
A regressive tax places a greater burden on this group
Adam Smith believed the economy was controlled by an invisible ____
In the business cycle, this comes before expansion
An inferior good is sometimes considered an ___stitute good
Partnerships have ___limited liability
Combination of firms involved in different steps of manufacturing
Type of partnership where all parties are responsible for the management and obligations of the business
An entrepreneur assumes the ____ of business