Economics and Personal Finance

Theories, principles and models which deal with the production, distribution and

consumption of goods and services?

• Economics

• Quota

• Laissez-faire

• Contraction

Period of two or more consecutive fiscal quarters of decreasing GDP?

• Imports

• Recession

• Expansion

• Exports

Period of two or more consecutive fiscal quarters of increasing GDP?

• Imports

• Recession

• Exports

• Expansion

Goods and services purchased from other countries?

• Recession

• Imports

• Exports

• Expansion

Goods and services sold to other countries?

• Exports

• Expansion

• Imports

• Recession

Measure of the change in the prices of consumer goods; used to measure

inflation; also known as cost-of-living index?

• Quota

• Consumer Price Index (CPI)

• Producer Price Index (PPI)

• Embargo

Measure of the change in the prices of wholesale goods; used to measure

inflation; formerly known as the wholesale price index?

• Trough

• Producer Price Index (PPI)

• Consumer Price Index (CPI)

• Economics

Measure of the number of people without jobs?

• Absolute Advantage

• Unemployment Rate

• Laissez-faire

• Revenue-producing Tariff

Trade alliance among 28 European nations; encourages free trade among

members and promotes work as a single market?

• World Trade Organization (WTO)

• European Union (EU)

• North American Free Trade Agreement (NAFTA)

• Embargo

Trade agreement among Canada, the United States and Mexico; mission to

diminish all trade barriers and investment restrictions between Canada, the

United States and Mexico?

• World Trade Organization (WTO)

• European Union (EU)

• Embargo

• North American Free Trade Agreement (NAFTA)