Monday, January 3, 2011

Practice Quizzes; Things I learned

  1. Illegal actions and unreported legal activities are part of an underground economy. Never knew we had an underground economy.
  2. I learned that there are such thing as indirect taxes. I thought it was just called taxes.
  3. Business cycle is only divided into 4 stages.
  4. Periods of expansion eventually reach a high point or peak.
  5. Some factors that help change the business cycle are supply and demand.
  6. War can also affect the business cycle.
  7. Countrys standard of living decreases without economic growth.
  8. Economic growth is essential for a coutnry to be successful.
  9. American productivity has slowed down since the mid 60's.
  10. Productivity growth is when a worker does more work each hour.

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