Economics exam part two

1. Government granting tax breaks and other monies to corporations with the hopes of preserving jobs.

• Outsourcing

• Corporate Welfare

• Oligopoly

• Export

1. The practice of moving American jobs to other countries to reduce costs 

• Labor Unions

• Monopoly

• Outsourcing

• Import

1. Negotiations between business and employees together, over conditions of employment

• Corporate Welfare

• Comparative Advantage

• Collective Bargaining

• Import

The ability to produce a good with a lower opportunity cost

• Comparative Advantage

• Monopoly

•  Outsourcing

•  Corporate Welfare

1.  Market with only one supplier and no close substitutes

• Comparative Advantage

• Collective Bargaining

•  Labor Unions

• Monopoly

1. Market with a few suppliers and no close substitutes

•  Outsourcing

• Comparative Advantage

• Oligopoly

• Labor Unions

1.  Organization of workers who seek better working conditions and wages.

• Import

• Monopoly

• Labor Unions

• Outsourcing

1.  Goods you sell to foreign countries.

1.          Goods you buy from foreign countries

 What is the definition of GDP?

• a monetary measure of the result of goods and services being produced using only a command economy

• a monetary measure of the market value of all the final goods and services produced in a specific time period by a country or countries.

• a measure of goods within a country that are only exported rather than imported and exported

• The result of trade between one country and another without tariffs