Intro to business

An ability to produce more goods and services in less time makes It possible to reduce the number of hours in a workweek

The more goods and services produced the healthier an economy is considered to be

One component of gross domestic product is the value of a countrys exports plus the value of the imports into the country

In the United States, all people over the age 21 who do no have a full-time, paying job are considered "unemployed"

Stanley recieves a monthly social security check from the us gonverment. This would not be counted when measuring his personal income.

Mikayla is a 14 year old student. She would not be considered part of the labor force in the United States.

Business cycles are the recurring ups and downs of gross domestic product

Economic growth refers to a steady increase in the production of goods and services

During periods of deflation, prices drop and demand increases greatly

The money for capital projects comes from three main sources: stock investments, bonds, and personal savings

Which of the following probably would result in a DECREASE in worker productivity?

If you purchase a corporate or government bond you are a

Inflation

The major influence on the lede of interest rates is

Which of the following is an example of a capital project

Which of these items would be counted when measuring GDP

Gdp does NOT include

The interest rate banks charge their best business customers is the

____________ occurs at the peak of the business cycle

In the early 1890's, the average employee in the united stats worked about how many hours per week?

If wages increase faster than gains in productivity, prices will rise. Why?

Dividing GDP by the total population of a country rests in that country's

If GDP growth slows for at least ___ quarter(s) in a calendar year, the economy is probably in a recession

A recession often affects some groups of workers in related businesses. The drop in related businesses is called

The money people deposit in banks and other financial institutions

Which of the following Is NOT a characteristic of a depression

GDP measures a country's economic output during

Retail sales

All of the following people are part of the labor force EXCEPT

Suppose wages are going up faster than prices. What is the most likely effect?

______ is a period in the business cycle when demand beings to decrease, businesses lower production, and GDP growth slows for two or more quarters of the calendar year

____ is an increase in the general level of priced

When a government spends less than it teaks, in a budget _____ is the result

The ______ bond rate is the cost of borrowing for large US corporations

____ represents ownership, or equity, in a corporation

The movement of the economy from one condition to another and back again is called a business ______

Gross ______ product is the total value of all final goods and services in a country in one year

________ is the production output in relation to a unit of input, such as a worker

The portion of people in the labor force who are not working is the _____ rate

Personal _____ refers to salaries and wages as well as investment income and government payments to individuals

A bond represents ______ for an organization

______ spending refers to money spent by a business for an item that will be used over a long period of time

An economic ______ is the phase in which unemployment begins to decrease, demand for goods and services increases, and GDP begins to rise again