The document contains questions and answers related to economics topics like unemployment rates, GDP, markets, business cycles, and economic systems. It defines key terms such as GDP, bull/bear markets, recessions/depressions, micro/macroeconomics, and free enterprise capitalism. The summaries provide high-level overviews of the document's content without extensive detail.
19. ANSWER: same as GDP, except it accounts for the fact that some production is only due to depreciation. Takes GDP and subtracts total loss of value due to depreciation.
61. ANSWER:it is given to families where a family member dies. only eligable for a certian # of months
62. Question: What is the Product Market?? http://owa.ea1785.org/owa/redir.aspx?C=3b51cdc8800b41c2bb4aa64365a81796&URL=http%3a%2f%2fwww.episcopalacademy.org%2fdrum%2fms%2fwfg%2fmjn.jpg ( FOR picture of circluar FLOW)
63. ANSWER: A Market where producers offer goods and services for sale
83. ANSWER: Micro- (small picture) a model of an individul or individul buisness Macro- (big picture) is LARGE units, looks at the ecoomy as a whole (govern, societies)
84. Question: Maria just sold her last cup of lemonade at her summer stand, but there was still a long line of people there. What is this an example of?
90. Question: A teacher at Episcopal Academy is fired and cant take is wife out to dinner, so the chef at the restraunt he was going to go to can't send his son to private school, and now has no chance at getting to Harvard. What is this an example of?
110. Question:Which of the following is not an example of Micro Economics a. the local corner store b. Caroline Jacoby c. the Episcopal Academy d. Wendy's