CHFD 215 CHFD215 Midterm Answers (APUS)

CHFD 215 CHFD215 Midterm Answers (APUS)


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CHFD 215 Midterm (APUS)

  1. Macroeconomics examines:
  2. Land, labor, capital, and entrepreneurial ability combined to produce goods and services are called
  3. The comparison of marginal benefits and marginal costs, usually for decision making is called:
  4. Microeconomics is focused on:
  5. Products or services that directly satisfy consumer wants are called:
  6. A curve showing the different combinations of goods and services that can be produced in a fully employed economy is called:
  7. The law of increasing opportunity costs indicates that:
  8. Optimal allocation or optimal output is when:
  9. Scaling back the U.S. "war on terror" would:
  10. The present CPI (inflation rate) is approximately:
  11. A command economic system is also known as:
  12. A market economic system is also commonly known as:
  13. A key feature of a market economic system is:
  14. GDP is the total market value of:
  15. Which is included in GDP?
  16. The first and foremost function of money is:
  17. Government purchases in national income accounts would include expenditures for payments of:
  18. A distinguishing characteristic of public transfer payments is that
  19. One of McDonald's McHits was their:
  20. The economcis book "The Wealth of Nations" was written by:
  21. In terms of percentage of sales revenue, which type of business is the largest?
  22. In terms of the number of businesses, which type of business is the largest?
  23. A major argument for economic growth is that it:
  24. Economies of scale refer to:
  25. Human capital refers to:
  26. Network effects are:
  27. A good or service whose consumption rises when income increases and falls when income decreases is referred to as a:
  28. A good or service whose consumption declines when income rises and rises when income decreases is referred to as a:
  29. A good or service that can be used in place of some other good or service is referred to as a:
  30. Good and services that are purchased for resale or for further processing or manufacturing are called:
  31. The nation with the highest GDP is:
  32. The nation with the highest underground GDP is:
  33. One of the reasons for an increase in the Productivity Acceleration is:
  34. The current GDP annual growth percentage in the United States is approximately:
  35. GDP that is adjusted for inflation is called:
  36. GDP that is unadjusted for infaltion is called:
  37. Net exports is one of the elements in the GDP and is expressed as:
  38. Real GDP per capita is:
  39. A product that would not be included in the GDP would be:
  40. The vice-president of the United States is:

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