Economic Terms
the loss of potential gain from other alternatives when one alternative is chosen.
what is opportunity cost?
This player was named the 2024 Super Bowl MVP
Who is Patrick Mahomes?
The name of the current Superintendent of Schools for the MUFSD
Who is Charles Sampson?
In ancient times, professional writers were called this
What is scribes?
Who is Jerome Powell?
the formula for unemployment rate
number of unemployed persons / labor force
This artist set the record at the 2024 Grammys for most wins - Album of the year
Who is Taylor Swift?
This team brought back a state championship to MHS in the 2023-2024 school year
What is field hockey?
What is McDonald's?
The name of the company that runs Chat GPT
What is Open AI?
a macroeconomic measure of the value of economic output adjusted for price changes
what is real GDP?
In its January 2024 statement, the Federal Reserve decided maintain this in order to achieve its dual mandate of max employment/price stability
What is the target range for the Fed Funds Rate?
The name of the new device-free hangout spot at MHS
What is the Tiger's Den?
This US President is honored in the wrestling hall of fame
Who is Abe Lincoln?
This US based company that facing scrutiny about the safety of its products after a door plug fell off in mid air
What is Boeing?
Central banks use this to manage economic fluctuations and achieve price stability
what is monetary policy?
The most popular Valentine's Day gift
What is candy?
On September 23, 1661, this man, a London merchant living in Oyster Bay, purchased the land on which the Town of Mamaroneck, Village of Mamaroneck, and Village of Larchmont are presently situated from the Siwanoy Indians
Who is John Richbell?
Osteoporosis primarily affects this part of the human body
What are bones?
This stock market index hit a record high yesterday
What is the S&P 500?
Price Stability and Full Employment
What is the Fed's dual mandate?
Midwinter recess (Feb break) dates back to 1978 when NY's Board of Ed decided to do it as an experiment with this purpose
What is to save energy?
Larchmont is a town in NY. How many other states have a town named Larchmont?
What is 4? (Delaware, Pennsylvania, Virginia, Washington)
The world's 9th largest country by land area
What is Kazakhstan?
This Chinese real estate company was ordered to start liquidation.
What is Evergrande?