Plato Economics End Of Semester Test Questions & Answers 100% Correct

Reserve Bank {Ans: one of 12 regional banks of the Federal Reserve that help the central bank}acceptability {Ans: the property of a good or service being universally acceptable in an economy}marginal benefit {Ans: an increase in benefit arising from a unit increase in consumption of goods or services}North American Free Trade Agreement (NAFTA) {Ans: an agreement to eliminate most tariffs on the trade between United States, Mexico, and Canada}economic stability {Ans: when the economy experiences constant growth and low inflation}human capital {Ans: the skills, knowledge, and experience possessed by people that adds value to their jobs}monopolistic competition {Ans: a market structure in which many companies sell similar but not identical products}trade surplus {Ans: the situation that occurs when a country's exports exceeds its imports}factor market {Ans: a market that helps firms buy and sell services related to factors of production, such as labor, capital, and raw materials}stock {Ans: a share of a company owned by a shareholder, which can be an individual or a group}mixed economy {Ans: an economic system that combines elements of market and command economies}Occupational Safety and Health Administration (OSHA) {Ans: the federal agency responsible