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Econ Final '23 Part I

Across
period of production that allows producers to change the amounts of all inputs is the ___ run
The Federal Reserve is
Unemployment which occurs when people are between jobs
a shared service for which it would be inefficient or impractical to have individuals pay for separately is a ____ good
factors that make it hard for new firms to enter a market and compete with existing ones are called barriers to _____
Taxes that place a heavier burden on the poor
A rising stock market
selling goods illegally without regards for government controls on price or quality is a ____ market
Demand which does not react to a change in prices is considered __elastic
A good one uses when they cannot get their first choice
Adam ______ developed the concept of the invisible hand
Type of unemployment caused by automation
Contingent employment is ___ time work
One who organizes the factors of production and assumes the risk of business
The loss when a decision is made is called an opportunity ____
Taxes that require the wealthy to pay a greater percentage
A prices go up, supply goes _____
benefiting from an economic action which one is not directly a part of is a _____ externality
when two businesses that create similar products come together to form a new company it is called a ____ merger
A business which makes an illegal agreement to divide a market, ____prices or limit production is called collusion
Factor of production include natural resources not created by human hands
Prices above the equilibrium point create this
The sum of one’s skills, abilities, health, knowledge, and motivation is called ____ capital
people’s reliance on each other to provide goods and services is _____ dependence
A declining market
Number of regional Federal Reserve Banks in the United States
workers whose jobs do not require special training or skills are considered _____ labor
Down
Numerous producers making differentiated products is called monopolistic _____
Government spending and revenue collecting to influence the economy is called ____ policy
A ___right gives an exclusive right to sell product
negotiation of employment terms between an employer and a group of workers is called collective
A contract where workers promise not to join a union are yellow ___ contracts
As ____ increase, the demand curve moves down
Labor leader concerned with "Bread and Butter" issues
When the Federal Reserve raises interest rates and increased the reserve requirement it is a ______ money policy
When the price of a good is above its value
a corporation with manufacturing and services in several countries
Initials for federal agency that regulates the U.S. securities markets and protects investors.
When an increase in units of production causes a lessening rate of productivity is called _____ marginal returns
jobs which require advanced levels of education
An economic side effect which negatively affects someone not directly involved in the transaction is this type of externality
Limited Liability Partnership keeps the people invested in the partnership from being_____ for business losses
A tool or equipment used in production, a factor of production
A mandated price above the equilibrium point
Goods that last at least three years
Jobs which create a lot of physical labor are called ____ labor
An organized work stoppage
Intergovernmental transfers are the greatest source of revenues for _____
Advantages reaped by companies when production becomes more efficient by increasing production and lowering costs are called economies of _____
A copyright last for the life of the creator plus seventy ____
In the United States, the census is taken every ___ years