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4. C1-$100 - $100 - $100 What is the MPS? MPS is the marginal propensity to save when disposable income has been increased by a $1

5. C1-$200 - $200 What Shifts PPC? Resources, technology and trade

6. C1-$300 - $300 What Is not included in GDP? Intermediate, nonproduct transactions and illegal activities

7. C1-$400 - $400 What Are the four Factors of Production? Land, Labor, Entrepreneurship and capital are the four factors of production

8. C1-$500 - $500 What Is absolute advantage? When a country has the advantage of producing the same goods and services than another country

9. C2-$100 - $100 Who owns the resources to produce and sell to the market? The federal government

10. C2-$200 - $200 What is nominal GDP? GDP not adjusted for inflation

11. C2-$300 - $300 What Is scarcity? When there are unlimited wants but limited resources to satisfy the demand of society

12. C2-$400 - $400 What Are the shifters of demand? Preferences, price of related goods, income and future expectations

13. C2-$500 - $500 What Makes up GDP Consumer spending, investments, government spending, and net exports

14. C3-$100 - $100 What Is MPC? MPC is marginal propensity to consume. When consumption increases after disposable income has been increased by a $1

15. C3-$200 - $200 What Are the shifters of PPC? It recognizes public records, acts and judicial proceedings

16. C3-$300 - $300 What Is seasonal unemployment? People unemployed due to seasonal job market changes

17. C3-$400 - $400 What Is Consumer Price Index? CPI is the index of the average goods and services purchased by the typical consumer

18. C3-$500 - $500 What Is frictional unemployment? People who are unemployed due to the time they used to find a job

19. C4-$100 - $100 What Is nominal interest rate? Interest rate actually paid for a loan

20. C3-200 - $200 What Measures the cost of purchasing a given market basket in a given year? The price index

21. C3-$300 - $300 What Is the circular flow model? Model which illustrates the flow of goods and services through the economy

22. C3-$400 - $400 What are substitute goods? http:w.sausd.us/Page/25788 Goods that are in demand due to the increase of price of a preferred good

23. C3-$500 - $500 What Are complimentary goods. The rise of the price of one good leads to a decrease in the price of another good

24. C4-$100 - $100 What Is Comparative Advantage? A country being able to produce goods at a lower opportunity cost than another country.

25. C4-$200 - $200 What Is normative economics? Normative economics are opinions on how the economy should work

26. C4-$300 - $300 What Is the law of supply? The higher the price of a good leads to a higher supply of that same good

27. C4-$400 - $400 What Is the percentage rate of senators that get reelected? 80 percent of senators get reelected

28. C4-$500 - $500 What Is the law of demand? The higher the price of one good, the higher the demand of a related good

29. C4-$100 - $100 How Do we measure the Standard of living? We measure the standard of living through Real GDP

30. C4-$300 - 200 What Is the difference between Real GDP and Nominal GDP? Real GDP is based on average prices and nominal GDP is based on current good prices

31. C4-$200 - $300 What is the effect of inflation? It will decrease the amount of goods and services being purchased

32. C4-$400 - $400 Who Counts as part of the labor force? People above 16 years old not involved in any full time institutions like school and are willing to work are part of the work force

33. C4-$500 - $500 What Are the 3 causes of inflation? Cost push Demand pull Excess of printed money