WGU; D089; Final; Exam; (Latest; 2025/; 2026; Update); Principles; of; Economics; Guide|; Q/A; |; Grade; A|; 100%; Correct; (Verified; Answers)
Q:; Capital; Goods
Answer:
Goods; that; are; used; in; producing; other; goods; rather; than; being; bought; by; consumers
Q:; Cartels
Answer:
A; group; of; firms; that; collude; to; produce; the; monopoly; output; and; sell; at; the; monopoly; price
Q:; Central; Banks
Answer:
The; principal; monetary; authority; of; a; country; or; monetary; union;; it; normally; regulates; the; supply; of; money,; issues; currency,; and; controls; interest; rates
Q:; Circular; Flow; Model
Answer:
An; economic; model; that; shows; the; flow; of; money; and; goods; through; the; economy.; The; most; common; form; of; this; model; shows; the; circular; flow; of; income; between; the; household; sector; and; the; business; sector
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Q:; Coins; and; Currency; in; Circulation
Answer:
The; coins; and; bills; that; circulate; in; an; economy; that; are; not; held; by; the; U.S; Treasury,; at; the; Federal; Reserve; Bank,; or; in; bank; vaults
Q:; Collude
Answer:
When; firms; act; together; to; reduce; output; and; keep; prices; high
Q:; Command; Economy
Answer:
An; economic; system; in; which; production,; investment,; prices,; and; incomes; are; determined; centrally; by; a; government
Q:; Commodity; Money
Answer:
An; item; that; is; used; as; money,; but; which; also; has; value; from; its; use; as; something; other; than; money
Q:; Commodity-Backed; Currencies
Answer:
Dollar; bills; or; other; currencies; with; values; backed; up; by; gold; or; another; commodity
Q:; Comparative; Advantage
Answer: 2 / 4
The; ability; of; a; party; to; produce; a; particular; good; or; service; at; a; lower; opportunity; cost; versus; another
Q:; Competitive; Advantage
Answer:
Something; that; places; a; company; or; a; person; above; the; competition
Q:; Compound; Tariffs
Answer:
A; tax; on; imported; goods; that; is; a; combination; of; a; fixed; amount; and; an; amount; based; on; the; value; of; the; goods
Q:; Concentration; Ratio
Answer:
An; early; tool; to; measure; the; degree; of; monopoly; power; in; an; industry,; which; measures; the; share; of; the; total; sales; in; the; industry; that; are; accounted; for; by; the; largest; firms,; typically; the; top; four; to; eight; firms
Q:; Constant; Returns; to; Scale
Answer:
When; an; increase; in; inputs; (capital; and; labor); causes; the; same; proportional; increase; in; output.; Expanding; all; inputs; proportionately; does; not; change; the; average; cost; of; production
Q:; Consumer; Goods
Answer:
Goods; bought; and; used; by; consumers
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Q:; Consumer; Price; Index; (CPI)
Answer:
A; measure; of; inflation; that; U.S.; government; statisticians; calculate; based; on; the; price; level; from; a; fixed; basket; of; goods; and; services; that; represents; the; average; consumer's; purchases
Q:; Consumer; Spending; (consumption)
Answer:
The; acquisition; of; goods; and; services; by; individuals; or; families
Q:; Contractionary; Policy
Answer:
An; economic; policy; used; to; fight; inflation; by; decreasing; the; money; supply
Q:; Cost; of; Living; Adjustments; (COLAs)
Answer:
A; contractual; provision; that; wage; increases; will; keep; up; with; inflation
Q:; Countercyclical
Answer:
Moving; in; the; opposite; direction; of; the; business; cycle; of; economic; downturns; and; upswings
Q:; Countervailing; Duties
Answer:
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