1.
Which group wants to maximize UTILITY?
2.
Which group wants to maximize PROFIT?
3.
Willingness and ability to consume good/service at various prices
4.
The amount of a good or service that is available to consumers
5.
Does the Law of Supply have a positive or negative relationship between price and quantity supplied?
6.
___ good that means more money, LESS of that good
7.
Increased or decreased population means higher demand?
8.
An increase in price in one good leads to a decrease in demand for another (vice versa)
9.
Peoples change in preferences over time
10.
Does increase in supply lead to higher or lower costs?
11.
Which direction will the supply curve move if supply increases?
12.
Changes in __ Prices will lower or increase costs.
13.
Dollar value of all final goods and services produced within a country's borders in a given year.
14.
labor force participants working at a job that they are overqualified for, or part-time when they desire full-time work.
15.
The word used to describe WORKERS who despite wanting a job, have stopped searching.
16.
The unemployment that is a short period of time which the worker is in the process of finding a job.
17.
The type of unemployment that is a mix-match between the skills the worker possesses and the skills employers need.
18.
Unemployment that rises during an economic downturn (Great Depression,Pandemic, etc.)
19.
The type of unemployment that occurs when companies slow or shut down during certain points of the year/seasons.
20.
This type of tax means the higher your income the more tax money you pay.
21.
This type of tax means the percent of your income paid in taxes decreases as income increases.
22.
What is the tax on imported goods called?
23.
This good is private and common.
24.
This good is club and public.
25.
A cost or benefit borne by someone other than the consumer or producer of a good.
26.
Measures prices of a market basket of goods to determine inflation rates over time.
27.
The two groups/people responsible for Fiscal Policy (separate words).
28.
The two groups/people responsible for Fiscal Policy (separate words).
