Econ CDF Review

Front

The law of demand has a/an ________ with price

Back

inverse relationship

Front

The law of supply has a/an ________ relationship with price

Back

direct relationship

Front

Resources found in nature. Also called "natural resources."

Back

Land

Front

Human effort to produce goods and services

Back

Labor

Front

Machinery used to produce goods and services.

Back

Capital

Front

People who generate ideas to organize goods and services.

Back

Entrepreneurship

Front

How do taxes affect businesses?

Back

Lower income taxes allow consumers to buy more goods.

Front

The decisions of the Federal Reserve help to promote their three main objectives of maximum employment, stable prices, and long-term interest rates. What is this called?

Back

Monetary policy

Front

The tax and spending policies of the federal government

Back

Fiscal policy

Front

When the government spends more money than they generate...

Back

they have a deficit.