JA Chp. 9-12
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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| Ability-to-pay principle | show 🗑
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| Average fixed costs | show 🗑
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| Average total costs | show 🗑
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| show | Total variable costs divided by quantity produced.
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| show | A principle stating that government should tax people in proportion to the benefits they receive from a government good or service.
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| show | The point of production at which income from sales equals total fixed and total variable costs.
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| Collective bargaining | show 🗑
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| show | An agreement in which companies restrict production to raise prices and profits.
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| Concentration ratio | show 🗑
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| Conglomerate merger | show 🗑
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| show | Demand for a resource, such as labor, based on the demand for the goods and services that the resource produces.
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| show | Reductions in cost resulting from large-scale production.
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| Externality | show 🗑
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| show | An acronym that stands for Federal Insurance Contributions Act, which directs the taxes people pay for Social Security and Medicare.
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| Fiscal year | show 🗑
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| Fixed costs | show 🗑
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| show | A price index that reduces the current gross domestic product prices into prices of a base year.
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| Grievance | show 🗑
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| Gross Domestic Product (GDP) | show 🗑
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| show | The combination of two or more companies engaged in the same business.
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| show | A court order to keep a union from striking and picketing.
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| show | The practice of favoring one person over another for reasons that have nothing to do with ability to perform a job.
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| show | Two companies that keep their independence while cooperating on a particular project.
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| show | All the people not in institutions who are 16 years of age or older and who are currently employed or who are unemployed and looking for work.
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| Labor productivity | show 🗑
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| show | An association of workers that seeks to improve its members wages, working conditions, and benefits.
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| Law of diminishing marginal returns | show 🗑
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| show | The closing down of a business to pressure a union into accepting employment conditions.
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| show | Decision making that involves comparing marginal benefits and marginal costs.
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| show | The additional revenue generated from the sale of an additional quantity of the product.
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| Market structure | show 🗑
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| Marketing | show 🗑
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| show | The purchase of one business by another business. The term buyout is sometimes used instead.
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| show | A market structure with many firms that offer similar but not identical products.
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| show | The cumulative sum of all federal government borrowing used to finance annual deficits.
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| Nominal GDP | show 🗑
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| show | A market structure in which a few large firms supply most or all products in a market.
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| Perfect competition | show 🗑
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| show | The act of employees carrying signs that call attention to a labor strike with the goal of arousing public sympathy.
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| Predatory pricing | show 🗑
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| Price-fixing | show 🗑
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| show | The output of goods and services measured per unit of input by labor, capital, or land.
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| show | The objective of the firm; it occurs when the firm produces the quantity for which MR = MC.
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| show | A tax that takes a higher proportion of income from higher income earners than from lower income earners.
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| show | A tax for which the percentage of income paid in taxes is the same for all income levels.
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| show | Something that, once provided, is available to anyone without additional cost.
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| show | The part of the economy that involves the transactions of government.
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| show | A market structure with only one seller in the market.
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| Real GDP | show 🗑
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| show | Real gross domestic product divided by a country’s population.
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| show | A tax for which the percentage of income paid in taxes decreases as income increases.
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| Seniority | show 🗑
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| Strike | show 🗑
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| Total costs | show 🗑
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| Total revenue | show 🗑
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| show | A factory, business, or agency operating under a contract in which non-union members can be hired but only on the condition that they join the union after they are hired.
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| show | Costs that change with the changing amounts of production.
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| Vertical merger | show 🗑
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You may also shuffle the rows of the table by clicking on the "Shuffle" button.
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