chap 23
Quiz yourself by thinking what should be in
each of the black spaces below before clicking
on it to display the answer.
Help!
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private goods | good that when consumed by on individual cannot be consumed by another
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public good | economic goods that are consumed collectively such as highways and natural defenses
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externality | the unintended side effects of an action that affects someone not involved in the action
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monopoly | when the market creates a sole provider for good and services
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antitrust law | legislation to prevent new monopolies from forming and police those that already exist
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merge | a combination of two or more companies to form a single business
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natural monopoly | a market situation in which the cost of productions are minimized by having a single from of produce the product
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real GDP | another adjustments for inflation
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business cycle | alternating periods of all growth and decline that the economy goes through .
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civilian labor force | all civilians 16 years or older who either working or looking for work
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unemployment rate | the percentage of people in the civilian labor force who are not working but looking for jobs
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food stamps | government coupons that can be used to purchase food
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fiscal policy | the federal government use of spending and taxation polices in affect overall business
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inflation | sustained increase in the general level of prices
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consumer price index | measure in change of price over time of specific groups of good and services
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women infant and children | a program that provides help for nutrition and health care to low income women infants and children up to age 5
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workfare | programs that require welfare recipients to exchange some of their labor to return for benefits
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progressive income taxes | a tax that takes a lager percentage of a higher incomes
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earned income tax credit | a program Agatha gives credit an even cash payments to the qualified works
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recall | a special election in which citizens can vote to remove a public office. situation in which a company pulls a product off the market and agrees to change it to make it safe
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Review the information in the table. When you are ready to quiz yourself you can hide individual columns or the entire table. Then you can click on the empty cells to reveal the answer. Try to recall what will be displayed before clicking the empty cell.
To hide a column, click on the column name.
To hide the entire table, click on the "Hide All" button.
You may also shuffle the rows of the table by clicking on the "Shuffle" button.
Or sort by any of the columns using the down arrow next to any column heading.
If you know all the data on any row, you can temporarily remove it by tapping the trash can to the right of the row.
To hide a column, click on the column name.
To hide the entire table, click on the "Hide All" button.
You may also shuffle the rows of the table by clicking on the "Shuffle" button.
Or sort by any of the columns using the down arrow next to any column heading.
If you know all the data on any row, you can temporarily remove it by tapping the trash can to the right of the row.
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Created by:
somonnemclean
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