Fbla economics Study guides, Class notes & Summaries

FBLA ECONOMICS questions with correct answers

FBLA Economics questions with correct answers

FBLA ECONOMICS 2022 QUESTIONS AND ANSWERS WITH COMPLETE SOLUTION

The function of monetary policy is to? Correct Answer Regulate the money supply What kind of cost is a cost that you have already incurred and cannot recover Correct Answer Sunk cost A __ economy produces the highest standard of living for its citizens Correct Answer Market oriented An increase in the quantity and quality of capital per worker is called? Correct Answer Capital deepening The demand for a resource is tied to the? Correct Answer Value of the output produced by that reso...

FBLA Economics Practice 2022 Updated Questions and Answers with complete solution

FBLA ECONOMICS 2022 QUESTIONS AND ANSWERS WITH COMPLETE SOLUTION

FBLA Economics Study Guide 2022 with complete solution

FBLA ECONOMICS 2022 QUESTIONS AND ANSWERS WITH COMPLETE SOLUTION

FBLA ECONOMICS questions with correct answers

Equilibrium Correct Answer the point where supply and demand intersect Price Ceiling Correct Answer govt. imposed price control limit on how high a price can be for a product Price Floor Correct Answer govt. imposed price control limit on how low a price can be for a product Marginal Tax Rate Correct Answer amount of tax paid on additional dollar of income. depends on earnings Elastic Correct Answer supply and demand for good or service can vary due to price Pure Competition Corre...