Economics

8. Persistent fall in the general price level of goods and services.
9. Price Index (CPI) and Gross Domestic Product (GDP) Reported using constant baseline dollar figures to adjust for inflation and deflation.
11. cost The price of the total foil being produced when producing more cans.
13. wealth Most likely increased by earning a higher income.
14. card Advantage over a debit card is the ability to delay payment.
18. goods to U.S. markets Results in decreased prices and increased quantity produced.
20. of a fast-food chain in China Influenced by the combination of trade and cultural diffusion.
22. incentives More effective in encouraging employee creativity over time in the workplace.
23. wage increase Likely to increase prices of consumer products.
25. economy Strongest incentive for entrepreneurship is earning a profit on investments.

1. Economic issue illustrated in the graph, choices must be made.
2. economy Type of economic system with the most control exercised by central government.
3. collusion Achieved by creating antitrust legislation by the federal government.
4. Requires keeping a record of spending.
5. utility Economic term for the benefit derived from eating the second slice of pizza.
6. due to new technology Type of unemployment experienced by workers losing their jobs.
7. financial planning Example is tracking income and expenses.
10. systems Associated with monopolistic competition due to different strengths and weaknesses.
12. loan Given to Sam because the bank earns money on the loan.
13. ceiling Imposed on apartment rents, resulting in rent lower than market rate.
15. price increase Occurs during Memorial Day to Labor Day due to consumer demand.
16. Reserve Attempts to lower interest rates when purchasing bonds on the open market.
17. unemployment Unemployment that occurs during a recession.
19. Forced to make choices among goods and services currently on the market.
21. economic fact No government can supply everything its citizens want or need.
24. rates Lowered to have a long-term impact on the creativity of the workforce.