An economic system is quizlet
[DOC File]Chapter 1 Exam – The Nature of Economics
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35) Another term for economic models” is. A) economic designs. B) economic theories. C) economic science. D) economic maps. 36) A simplified representation of the real world that is used to explain economic phenomena is a(n) A) map. B) model. C) assumption. D) …
[DOC File]Chapter 5 Overview
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Main Themes: 1. How the thirteen American colonies were able to win their independence from one of the most powerful nations on earth. 2. How the American Revolution was not only a war for independence, but also a struggle to determine the nature of the nation being created.
[DOC File]CHAPTER 2 Exam - Scarcity and the World of Trade—offs
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C) only in economic systems that are just beginning to develop because specialized. resources are scarce. D)to all economic systems, regardless of their level of development. 4) In every economic system, choices must be made because resources. A) are …
[DOC File]Chapter 7
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Economic Analysis. 1. If a the price index was 50 in 1998 and the price index was 70 in 1999, the best estimate of the annual inflation rate between 1998 and 1999 is. a. 20 percent. b. 40 percent. c. 50 percent. d. 70 percent. e. 7/5. 2. The United States terminated its …
[DOC File]CHAPTER 1
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7. The barter system is considered to be which of the following? a. Highly effective for making transactions. b. Highly efficient. c. Costly, cumbersome, and inefficient. d. a necessary part of the financial system. ANSWER: c . 8. When using the barter system, it …
[DOC File]CHAPTER 23
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Answers will vary, but here is one possible response: If a bank or business is so big that its failure would result in the collapse of the entire financial system or an entire industry or would result in irreparable harm to society, then the government has an obligation to ensure that the economic system does not fail.
[DOCX File]Central Dauphin School District / Overview
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In our economic system, decisions about production and price are set through the _____, although the _____ regulates many of those decisions. (p 21) This regulation is justified for two reasons: _____ and _____. (p 21) Based on our class discussion, do you think communism would work in the US? ...
[DOC File]6th Grade Social Studies Mid-Term Study Guide for Europe
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The Economic System of Europe: SS66E5. 1. An economy in which decisions are made primarily by buyers and sellers is called a market economy. 2. An economy in which decisions are made mostly by the government is called a command economy. Think of the government commanding the economy. 3. An economy in which decisions are based by both ...
[DOC File]Hamilton’s Economic Plan: Pros and Cons
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Hamilton’s Economic Plan: Pros and Cons KEY. Component. Arguments For It. Arguments Against It. Have the federal government pay off foreign debts, reissue bonds to holders. Have the federal government assume states’ debts. Establish a national bank. Raise a tax on imported goods.
[DOC File]CHAPTER OVERVIEW
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National income accounting does for the economy as a whole what private accounting does for businesses. Firms measure income and expenditures to assess their economic health. The national income accounting system measures the level of production in the economy at some particular time and helps explain that level.
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