Econ final exam review

Front

Define Mutual Fund

Back

a pool of money from many investors

Front

Is a investment strategy that spreads your money across different assets types

Back

Diversification

Front

Something you hope not to need but are glad to have in emergencies

Back

Insurance

Front

Value form of money

Back

Premium

Front

Tax rate increases as income increases

Back

Progressive Tax

Front

Tax rate decreases as income increases

Back

Regressive Tax

Front

Products used in places of others

Back

Substitute goods

Front

Products that increase the use of each other

Back

Complementary goods

Front

Price equilibrium is the price where quantity supplied equals the quantity demand.

Back

True

Front

Law of Demand is when the price of a good increases, the quantity demanded decreases, and vice versa

Back

True