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WorksheetsPromoting Growth and Stability
Total questions: 10
Worksheet time: 10mins
What are Macroeconomics?
Study of the economic behavior and decision making of small units, such as individuals, families, house-holds, and businesses.
Study of the behavior and decision making of entire economies.
Macroeconomic expansion followed by a period of contraction.
The branch of knowledge concerned with the production, consumption, and transfer of wealth.
What is gross domestic product (GDP) ?
The total value of all final goods and services produced in an economy
Economic behavior and descision making
Process used to produce a good or service
An economic side effect
What are Microeconomics?
The study of the behavior and decision making of small units, such as individuals, families, house-holds, and businesses.
The part of the economy that involves the transactions of the government
An economic side effect that generates benifits or costs to someone
When the quantity supplied does not equal the quantity demanded
What is a business cycle?
the desire to own something and be willing to pay for it.
a commitment to the value of work and purposful activity.
The process used to produce a good or service.
A period of macroeconomic expansion followed by a period of contraction, or decline.
What is work ethic?
The process used to produce a good or service
Government aid for the poor
A commitment to the value of work and purposeful activity
a professional or cleric job to make money
What is technology?
The process used to produce a good or service
A shared good or service for which it would be inefficient or impractical for individuals to pay for
goods that consumers demand more of when their incomes increase
the act of redirecting resources from being consumed today so that they may create benefits in the future.
How does the government incentivize innovation?
Funds research and development at universities, government research institutions
By guaranteeing intellectual property rights
Cooperative research ventures between universities and companies
All of the above
What is economic growth?
set of government programs that protect people from experiencing unfavorable economic conditions
alternative given up as the result of a decision
An increase in the level of economic activity or real gross domestic product
a human-made resource that is used to produce other goods and services
What is a result of a stabilized economy?
High employment
Steady growth
Stable prices
All of the above
What does federal banking regulation do?
Promote economic growth
Protect bank deposits and retirees´ pensions
Provide money for agriculture and mechanical arts
Play an important role in production of goods and services
