Economy Final Project

1. What creates an "absolute advantage" in trade
3. When people choose to quit a job to find a better job
4. In the United States, in which factor of production do we have an advantage? In which do we have a disadvantage?
7. When in disequilibrium, supply and demand are not
8. If you have a surplus of a product, what do you have to do
9. Which of the following is NOT a part of your "Disposable Income"
12. What type of financial institution is likely to offer you the best interest rate
13. Which economic system has the government make all the decisions
14. What’s opportunity cost?
17. The most recent, major economic downturn in U.S. History is known as
20. The cycle of ups and downs in the economy is known as
21. What was the most significant period of negative GDP growth in U.S. History?
22. What's considered a healthy inflation rate
23. What was the first U.S. monopoly to encourage national actions to control or eliminate monopolies and trusts?
24. The two main goal of the US Federal Reserve is to
25. When you receive a check from the government, where does that money come from

2. What’s a trade off?
5. A person who is making rational economic decisions when purchasing a good or service is first considering
6. Once an economy has stopped shrinking and begun growing, we call this phase
10. If the actual price is higher than the equilibrium price, will a surplus or shortage occur
11. If you have a shortage of a product, what do you have to do?
15. What is the largest form of debt that most people will have in their lifetime
16. A person who is making rational economic decisions when purchasing a good or service is first considering
18. Least common economic system?
19. What is demand?