PF Final Exam

Front

The principle that states people must decide which goods and services to use due to limited resources and unlimited wants is known as ____.

Back

Scarcity

Front

The factors of production include ____.

Back

land, labor, capital, entrepreneurship

Front

Which of the following is NOT a depository institution?
commercial banks,
credit unions,
savings and loan associations

Back

investment banks

Front

The regulatory agency that oversees non-depository institutions is the ____.

Back

Securities and Exchange Commission

Front

Each of the following is a function of money EXCEPT ____: serving as medium of exchange, offering unit of value, providing store of value.

Back

maintaining a stable value

Front

The total amount of money in circulation in a country is called ____.

Back

money supply

Front

The federal regulatory agency that guides monetary policy is the ____.

Back

Federal Reserve System

Front

Each of the following is used to measure how well the economy is doing EXCEPT ____: Gross Domestic Product, Consumer Price Index, unemployment rates.

Back

inflation rates

Front

The main segments of the business cycle go in order of ____.

Back

expansion, recession, trough, recovery

Front

Interdependency among nations is caused by ____.

Back

scarcity of resources