3. In which situation would the borrower likely 2. Ultimately, in a free enterprise system, 7. What does the Consumer Price Index 8. How do purely competitive markets compare benefit the most? customers make businesses profitable. Their measure? to monopolistically competitive markets? actions are an example of which of the following? Kiara takes out a five-year car loan with a the change in the price of a basket of There are many producers in monopolistically competitive markets, but fixed interest rate just before a long household goods and services consumer power here are few producers in purely period of rapid inflation. competitive markets consumer sovereignty the rate of change in the purchasing Paige takes out a five-year car loan with a power of a nation's consumers Producers sell identical products in variable interest rate just before a long customer satisfaction the change in the value of a basket of monopolistically competitive markets, but period of rapid inflation. customer service national currencies producers sell similar, but differentiated, products in purely competitive markets. Gina takes out a five-year car loan with a the rate of change in the monetary supply There are many producers in purely ixed interest rate just before a long of the United Sta competitive markets, but there are few period of rapid deflation. producers in monopolistically competitive Sondra takes out a five-year car loan with markets. a fixed interest rate just before a long Producers sell identical products in purely period of rapid deflation. competitive markets, but producers sell similar, but differentiated, products in monopolistically competitive markets. 9. Use the table to answer the question. 11. The European Union has sought to benefit its 14. Since the mid-1970s, the United States has 12. National defense, helping infant industries, Date member nations as a trading block by had a trade deficit. What does this mean? Currency 1US dollar reducing domestic job loss, and keeping money June 2015 1.05 1.00 Osubsidizing foreign industries. at home are MOST LIKELY arguments in favor of The total spending of the US government December 20151.15 1.00 is higher than its revenue. June 2016 1.20 1.00 supporting a common currency. ONAFTA December 20161.25 1.00 The United States imports more goods What conclusion can be drawn based on the enforcing economic embargoes. protectionism and services than it exports information in the table? O setting strict export quotas. EU The total spending of the US government is lower than its revenue. The value of currency 1 increased relative trade agreements to the US dollar between June 2015 and The United States exports more goods December 2016. and services than it imports. The intrinsic value of currency 1 increased and the intrinsic value of the US dollar stayed the same. The value of currency 1 decreased relative to the US dollar between June 18. Darryl is a small farmer in southern Georgia. 20. Janay stopped at a coffee shop on her way to 21. Which tax category do property taxes fall work. While waiting in line to order, Janay saw under and why? 2015 and December 2016 His main crop is peaches. After he harvests his that the price of a large tea was only $2.50 but a The intrinsic value of currency 1 peaches he must exchange them for money as Progressive tax because the amount of decreased and the intrinsic value of the soon as possible. The longer he goes without large coffee was $3.50. What function of money tax owed on any property is the same selling the peaches, the less others will be willing allows Janay to accurately compare the value of regardless of the property owner's level of US dollar stayed the same. to exchange for them. Why does Darryl attempt the two products? income. to exchange his peaches for money soon after Regressive tax because people with 15. Which group within the Federal Reserve O as a medium of exchange they are harvested? lower incomes pay a higher proportion of system decides whether to raise or lower interest O as a form of investment their income in taxes than people with rates and is the Fed's primary monetary Banks will store money, but peaches are O as a unit of account higher incomes. policymaking body? difficult to store. Progressive tax because people who own as a store of value expensive homes pay higher property Money is a better store of value than taxes than those who own inexpensive Board of U.S. Senators peaches. homes. Federal Advisory Council Everyone likes money, but not everyone Regressive tax because the tax rate used to compute the property tax for any Federal Reserve Banks likes peaches. property is based on the income level of Money is more easily divided than the owner. Federal Open Market Committee beaches