Immigration and Economics
Terms
undefined, object
copy deck
- What are 2 ways you can become an american citizen?
- by birth or foreigners who choose to become ctizens
- What amendment deals with how to become an american citizen?
- 14th amendment
- Why did the US find it necessary to add this amendment to the constitution?
- To establish ways to become a citizen
- What is the fastest growing ethnic group in the US?
- Hispanic
- What famous statue in NY tells the world to "give us your tired,poor,huddled masses yearning to be free?"
- Statue of Liberty
- List 5 factors that can change market demand
- more consumers, income, tastes,expectations (of consumers, and prices
- What is elastic demand?
- When the price changes, demand changes
- What is inelastic demand?
- When the price changes, demand stays the same
- What is sole proprietorship?
- a buisness owned and operated by one person
- What is partnership?
- a buisness owned and operated by 2 or more people
- What is a corporation?
- type of buisness owned by many people but treated by law as though it were a person
- What is a monopoly?
- a sole provider of a good or service
- What 2 powerful monopolies were broken?
- Standard oil and AT&T
- Give 2 ex. of natural monopolies and explain why the government allows them
- electric and gas;the cost of production is minimized
- What is a merger?
- a combination of 2 or more companies to form a single buisness
- What does FDA stand for and what does it do?
- The Food and Drug Administraton deals with purity, effectiveness, and labeling on food, drugs, and cosmetics
- ____ is the money a buisness recevies for its products or services over and above its costs
- profit
- ____ is the degree to which resources are used efficiently to produce goods and services
- production
- Usually, _____ is restricted when government regulations get tighter
- supply
- What is a product recall and why do they occur?
- a compan pulls a product off the market because it is unsafe
- Explain GDP
- GDP is the measure of the economy's output
- What is a buisness cycle?
- periods of growth and decline
- What is recession?
- naton's output doesn't grow for 6 months
- What is expansion?
- economic activity increases
- What is fiscal policy?
- changes in government spending or tax policy
- What is inflation?
- sustained increase in the general level of prices
- What is dividend?
- a share of the corporation's profits that are distributed to shareholders
- What is the stock market or stock exchange?
- specific location where shares stock are sold and bought
- Explain Bull markets and Bear markets
- Bull markets stock prices tend to rise because of high profits. Bear markets stock prices could fall drastically
- What was the great depression and when did it occur?
- stock markets and banks crashed which resulted in a worldwide depression in the 1930's
- Who was president during most of the Great Depression?
- Roosevelt
- Who was president when the Great Depression began?
- Hoover