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Ch. 7 T &F
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Economics is the study of the production and distribution of scarce resources.
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False
True
The capital market refers to money made available by banks and other lenders as loans, primarily to business firms but to consumers as well.
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True
GDP (gross domestic product) is the total value of a nation's production of goods and services for a year.
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True
Current dollars are valued from a particular year in order to account for changes in the value of dollars.
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False
The Federal Reserve Board controls the supply of money and credit and interest rates.
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True
Managerialism is control of the corporation by stockholders rather than professional managers.
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False
A hostile takeover is the purchase of stock in a corporation by an outsider and the subsequent ousting of the prior management.
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True
Corporate raiders are investors who arrange to purchase stock in a hostile takeover effort.
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True
The trade deficit is the difference that results when a country exports more goods than it imports.
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The trade deficit is the difference that results when a country imports more goods than it exports.
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National income accounting is data collected by government that describes the nation's unemployment rate.
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False
Congress controls the supply of money, plus credit and interest rates.
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The Federal Reserve Board raises and lowers tax rates to control inflation.
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False
Protectionism is maintaining high tariffs in order to protect domestic producers from foreign competition.
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True
Illegal drug activity as well as unreported tops by resturants workers would both be considered part of the underground economy.
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True
The majority of the U.S. federal debt is now owed to foreign nations.
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False
The United States has run trade deficits every year in the 21st Century.
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True
Social Security is the largest of all entitlement expenditures.
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Supply-side economics theory argues that the government should keep marginal tax rates high to reduce the federal budget deficit.
True
False
False
Author
TiaRae
ID
9148
Card Set
Ch. 7 T &F
Description
Chapter 7
Updated
2010-03-04T21:44:40Z
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