Economic Glossary Part 2

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What is meant by Deflation?

A nation's central bank that is established to regulate the money supply and oversee the nation's banks.

A sustained decrease in the average price level of all the goods and services produced in the economy. (correct)

The way in which the nation's income is divided among families, individuals, or other designated groups.

The percentage of the total population aged 16 or over that is employed.

What is the definition of Capital Loss?

Resources made and used to produce and distribute goods and services.

A profit realized from the sale of property, stocks, or other investments.

Money in the form of paper currency or coins.

A loss suffered upon the sale of property, stocks, or other investments for less money than the purchase price of the asset in question. (correct)

What is Globalization?

Goods and services bought from sellers in another nation.

Spending by all levels of government on goods and services.

The increased flow of trade, people, investment, technology, culture, and ideas among countries. (correct)

The way in which the nation's income is divided among families, individuals, or other designated groups.

What does Human Capital refer to?

Intangible assets possessed by individuals, including knowledge, talent, skills, health, and values. Signup and view all the answers

What is Income Tax?

Payments made by individuals and corporations to the federal government based on income received. Signup and view all the answers

What are adaptive expectations?

Expectations about inflation or other economic events Signup and view all the answers

What is the function of an Automated Teller Machine (ATM)?

Provides cash and performs banking services automatically Signup and view all the answers

What are bank reserves?

The percentage of a bank's deposits that it keeps on hand Signup and view all the answers

What is the definition of capital in economics?

Resources and goods made and used to produce other goods and services Signup and view all the answers

What do bank service charges refer to?

Fees paid by bank customers for financial services Signup and view all the answers

Which method can be used to connect independent clauses in order to correct a run-on sentence?

Using a semicolon Signup and view all the answers

What is the purpose of using a comma and a coordinating conjunction to correct a run-on sentence?

To emphasize the relationship between the two clauses Signup and view all the answers

What problem does a sentence fragment typically have?

It lacks a necessary component of a complete sentence Signup and view all the answers

What is the purpose of using a subordinating conjunction to correct a run-on sentence?

To turn one of the independent clauses into a dependent clause Signup and view all the answers

When correcting a run-on sentence, what should be checked when using a period to split the sentence into smaller ones?

Flow of the clauses Signup and view all the answers

Which of the following best describes a run-on sentence?

A sentence that lacks proper punctuation and contains multiple independent clauses Signup and view all the answers

What is a comma splice in a sentence?

Joining two independent clauses with just a comma Signup and view all the answers

What causes some comma splices in sentences?

Attempting to use a transitional expression without a comma Signup and view all the answers

How can you fix a comma splice caused by a transitional expression in a sentence?

Use a semicolon before the transitional expression and add a comma after it Signup and view all the answers

What is the main issue with the example sentence: 'The results of the study were inconclusive, therefore more research needs to be done on the topic'?

The improper use of a comma splice Signup and view all the answers