Banking
Created in 1913, this is the central bank of the United States
What is the Federal Reserve?
This 1929 stock market crash, nicknamed "Black Tuesday," helped start the Great Depression.
What is the Crash of 1929?
This measures the total value of all goods and services a country produces
What is GDP?
A market where prices are rising is named after this animal
What is a bull?
U.S. paper money is actually made mostly of this fiber, the same one found in your T-shirt
What is cotton?
This agency, created in 1933, insures bank deposits up to $250,000
What is the FDIC?
FDR's set of 1930s programs and reforms meant to pull the U.S. out of the Depression
What is the New Deal?
A common rule of thumb says two quarters in a row of falling GDP signals this
What is a recession?
This type of security represents a share of ownership in a company
What is a stock?
In 2025, the U.S. Mint stopped making this coin for circulation because each one cost more than 3 cents to make
What is the penny?
Banks keep only part of their deposits on hand and lend out the rest under this system
What is fractional reserve banking?
This 1944 New Hampshire conference created the IMF and the World Bank
What is Bretton Woods?
This index tracks price changes in a "basket" of everyday goods and is used to measure inflation
What is the Consumer Price Index (CPI)?
A market with only one seller
What is a monopoly?
The largest bill ever printed by the U.S. was worth this much, and it was only used between Federal Reserve Banks
What is $100,000?
The Fed sets a target for this interest rate, which banks charge each other for overnight loans
What is the federal funds rate?
In 1971, President Nixon ended the U.S. dollar's convertibility into this
What is gold?
This monthly government report, usually released on the first Friday of the month, shows how many jobs were added
What is the jobs report (nonfarm payrolls)?
This stock index tracks about 500 of the largest U.S. companies
What is the S&P 500?
The world's first paper money came from this country
What is China?
This 1933 law separated commercial and investment banking until it was largely repealed in 1999
What is the Glass-Steagall Act?
This investment bank's 2008 bankruptcy was the largest in U.S. history and a turning point in the financial crisis
What is Lehman Brothers?
When short-term Treasury yields are higher than long-term yields, this curve is said to be "inverted"
What is the yield curve?
The price at which quantity supplied equals quantity demanded
What is the equilibrium price?
Which country has the highest GDP per capita?
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