Matching
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Identifying Key
Terms
Match each
term with the correct statement below. a. | gross domestic product | f. | macroeconomics | b. | free rider | g. | poverty threshold | c. | public interest | h. | market failure | d. | private sector | i. | welfare | e. | in-kind benefits | j. | public disclosure laws |
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1.
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the part of the economy that
involves the transactions of individuals and businesses
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2.
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requirements for companies to
provide full information about their products
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3.
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an income level below that
which is needed to support families or households
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4.
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goods and services provided by
the government for free or at greatly reduced prices
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5.
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the study of the behavior and
decision making of entire economies
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6.
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the concerns of the people as
a whole
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7.
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someone who would not choose
to pay for a certain good or service, but who would get the benefits of it anyway if it were provided
as a public good
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8.
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the total value of all final
goods and services produced in a particular economy
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Identifying Key
Terms
Match each
term with the correct statement below. a. | market failure | f. | public disclosure laws | b. | cash transfers | g. | business cycle | c. | public policy | h. | interest group | d. | externality | i. | microeconomics | e. | welfare | j. | poverty threshold |
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9.
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a period of macroeconomic
expansion followed by a period of contraction
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10.
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an economic side effect of a
good or service that generates benefits or costs to someone other than the person deciding how much
to produce or consume
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11.
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an income level below that
which is needed to support families or households
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12.
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a private organization that
tries to persuade public officials to act or vote in a certain way
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13.
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the study of the economic
behavior and decision making of small units such as families, individuals, or
businesses
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14.
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a situation in which goods are
not fairly distributed
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15.
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government aid to the
poor
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16.
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laws and standards on topics
of public interest
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