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Chapter 20<br />Chapters 20 and 21 Vocabulary<br />
Two grades for this <br />For each question write the answer on the answer sheet. <br />On a separate sheet of paper write...
Question 1<br />What is something that workers on strike do in response to their company trying to hire other workers?<br />
Question 2<br />What is the method of settling disputes in which the decision of an expert arbitrator is binding on both s...
Question 3<br />What is it called when laborers have any kind of slowdown, or action short of a strike?<br />
Question 4<br />What is the method of settling disputes that involves an expert on relations between labor and management ...
Question 5<br />What is the name of the federal government’s policy of taxing and spending?<br />
Question 6<br />What is an organization of workers with the objective to obtain better conditions by making demands on the...
Question 7<br />What is the money supply called? Changes are made to it during a recession to aid the economy.<br />
Question 8<br />What is the form of negotiation between labor union representatives and management representatives in whic...
Question 9<br />What is usually the response of labor unions when employers refuse to recognize or deal with them?<br />
Question 10<br />What is the shifting of the economy from good times to bad times and then back to good times again?<br />
Question 11<br /> The trough is historically low. What state would an economist say that the economy is in?<br />
Question 12<br />What word refers to a general increase in the price level of goods and services?<br />
Question 13<br />What is the word for when the business cycle has reached a high point?<br />
Question 14<br />When the economy reaches its lowest point, it is said to be in a….<br />
Question 15<br />What is the economic slowdown that occurs after the economy peaks known as?<br />
Question 16<br />Wages, payments for raw materials, transportation, rent and interest on money borrowed are examples of wh...
Question 17<br />When the contraction becomes severe enough, it is known as a…<br />
Question 18<br /> A period of growth in which the GDP increases is known as…<br />
Chapter 21 Vocabulary<br />
Two grades for this <br />For each question write the answer on the answer sheet. <br />On a separate sheet of paper write...
Question 1<br />What is it called when the government puts a limit on the exchange of goods to protect domestic jobs and i...
Question 2<br />Who is a person who buys goods or services?<br />
Question 3<br />What is the economic rivalry among businesses selling similar products called?<br />
Question 4<br />What are signs that show economists how the economy is doing at the present time called?<br />
Question 5<br />What is a person or company that provides goods or services?<br />
Question 6<br />What can be used to illustrate the interactions of groups in the economy? (ex. Relationship between househ...
Question 7<br />What do economists use to make predictions about future economic growth?<br />
Question 8<br />What are the special tax reductions offered by the government that help lower a company’s tax bill if it f...
Question 9<br />What are known as the economic signs that lag behind, or follow, major changes in the business cycle?<br />
Question 10<br />What monetary policy increases the growth of the money supply and encourages economic growth?<br />
Question 11<br />What does a nation have when it can produce more of a given product than another country can?<br />
Question 12<br />What is known as the amount of money banks must have available at all times?<br />
Question 13<br />What monetary policy reduces the growth of the money supply, and subsequently slows economic growth<br />
Question 14<br />What does a country have when it can provide a product more efficiently and at a lower opportunity cost t...
Question 15<br />What is the name for the difference between the value of a country’s exports and the value of its imports...
Question 16<br />What is the term that explains the value of the next best alternative to a product that is given up when ...
Question 17<br />What tool is used by the government to carry out monetary policies that involves the buying and selling o...
Question 18<br />What is it called when a country buys more than it sells?<br />
Question 19<br />What is it called when a country sells more than it buys?<br />
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Chapters 20 and 21 vocab student version

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Chapters 20 and 21 vocab student version

  1. 1. Chapter 20<br />Chapters 20 and 21 Vocabulary<br />
  2. 2. Two grades for this <br />For each question write the answer on the answer sheet. <br />On a separate sheet of paper write a complete sentence that indicates that you understand the meaning of the word. No one writes all of the sentences.<br />Good Example for Congress-Congress is the nation legislature in Washington, DC that writes the laws.<br />Bad Examples-I like Congress. I drove by Congress yesterday. I would never name my dog Congress.<br />
  3. 3. Question 1<br />What is something that workers on strike do in response to their company trying to hire other workers?<br />
  4. 4. Question 2<br />What is the method of settling disputes in which the decision of an expert arbitrator is binding on both sides?<br />
  5. 5. Question 3<br />What is it called when laborers have any kind of slowdown, or action short of a strike?<br />
  6. 6. Question 4<br />What is the method of settling disputes that involves an expert on relations between labor and management who examines the issue and recommends a solution that is not legally binding on either side?<br />
  7. 7. Question 5<br />What is the name of the federal government’s policy of taxing and spending?<br />
  8. 8. Question 6<br />What is an organization of workers with the objective to obtain better conditions by making demands on their employers?<br />
  9. 9. Question 7<br />What is the money supply called? Changes are made to it during a recession to aid the economy.<br />
  10. 10. Question 8<br />What is the form of negotiation between labor union representatives and management representatives in which a compromise is usually reached?<br />
  11. 11. Question 9<br />What is usually the response of labor unions when employers refuse to recognize or deal with them?<br />
  12. 12. Question 10<br />What is the shifting of the economy from good times to bad times and then back to good times again?<br />
  13. 13. Question 11<br /> The trough is historically low. What state would an economist say that the economy is in?<br />
  14. 14. Question 12<br />What word refers to a general increase in the price level of goods and services?<br />
  15. 15. Question 13<br />What is the word for when the business cycle has reached a high point?<br />
  16. 16. Question 14<br />When the economy reaches its lowest point, it is said to be in a….<br />
  17. 17. Question 15<br />What is the economic slowdown that occurs after the economy peaks known as?<br />
  18. 18. Question 16<br />Wages, payments for raw materials, transportation, rent and interest on money borrowed are examples of what?<br />
  19. 19. Question 17<br />When the contraction becomes severe enough, it is known as a…<br />
  20. 20. Question 18<br /> A period of growth in which the GDP increases is known as…<br />
  21. 21. Chapter 21 Vocabulary<br />
  22. 22. Two grades for this <br />For each question write the answer on the answer sheet. <br />On a separate sheet of paper write a complete sentence that indicates that you understand the meaning of the word. You will not do this for every word and I need to see sentences by both partners.<br />You will know you are to write the sentence if the question has a picture. There are twelve sentences needed.<br />
  23. 23. Question 1<br />What is it called when the government puts a limit on the exchange of goods to protect domestic jobs and industries from foreign competition?<br />
  24. 24. Question 2<br />Who is a person who buys goods or services?<br />
  25. 25. Question 3<br />What is the economic rivalry among businesses selling similar products called?<br />
  26. 26. Question 4<br />What are signs that show economists how the economy is doing at the present time called?<br />
  27. 27. Question 5<br />What is a person or company that provides goods or services?<br />
  28. 28. Question 6<br />What can be used to illustrate the interactions of groups in the economy? (ex. Relationship between households, federal government and businesses)<br />
  29. 29. Question 7<br />What do economists use to make predictions about future economic growth?<br />
  30. 30. Question 8<br />What are the special tax reductions offered by the government that help lower a company’s tax bill if it follows certain policies the government favors?<br />
  31. 31. Question 9<br />What are known as the economic signs that lag behind, or follow, major changes in the business cycle?<br />
  32. 32. Question 10<br />What monetary policy increases the growth of the money supply and encourages economic growth?<br />
  33. 33. Question 11<br />What does a nation have when it can produce more of a given product than another country can?<br />
  34. 34. Question 12<br />What is known as the amount of money banks must have available at all times?<br />
  35. 35. Question 13<br />What monetary policy reduces the growth of the money supply, and subsequently slows economic growth<br />
  36. 36. Question 14<br />What does a country have when it can provide a product more efficiently and at a lower opportunity cost than another country can?<br />
  37. 37. Question 15<br />What is the name for the difference between the value of a country’s exports and the value of its imports?<br />
  38. 38. Question 16<br />What is the term that explains the value of the next best alternative to a product that is given up when a country specializes ?<br />
  39. 39. Question 17<br />What tool is used by the government to carry out monetary policies that involves the buying and selling of government bonds?<br />
  40. 40. Question 18<br />What is it called when a country buys more than it sells?<br />
  41. 41. Question 19<br />What is it called when a country sells more than it buys?<br />

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