Econ Semester Final-Petrous 1st Hr-Emily High

1. (Two words) Those who want a job have a job.
5. Measure of the amount of output produced with a given amount of productive factors.
6. (Two words) Scottish philosopher who wrote about economics and value.
11. As income increases tax rates increase
13. The study of how people try to satisfy unlimited wants.
16. Products that increase the use of other products.
17. Amount of a product offered for sale at all possible prices.
19. When the actual price is above or below the equilibrium.
21. (Two words)Funds that invest primarily in U.S based companies
23. Supply will go ____ if companies leave a particular industry or go out of business.
24. (Two words) People who favor fewer or even no trade restrictions
25. (Two words)A positive balance after expenditures are subtracted from revenue

2. (Two words) Fee paid for the use of a good or service
3. (Two words) Cost of the next best alternative use of money, time, or resources when making a choice.
4. (Two words) Spending approved by congress
7. A “shrinking” economy producing fewer goods and services than it did before.
8. As income decreases taxes increase
9. (Two words) A tax that imposes a higher percentage rate of taxation on high income than on lower ones
10. (Two words) People in other country also buy US goods and services
12. Extent to which persons of organizations are better off financially at the end of a specific period than where it began.
14. (Two words) How quickly prices are rising each year.
15. (Two words) These are funds that primarily purchase stock in companies anywhere around the world, including the U.S.
18. (Two Words) Businesses buy resources from individuals in the _____ _____.
20. These are the companies that the mutual fund currently own stock in
22. When the economy is producing more goods and services than it did before.