Economic system which individuals and corporations (NOT the government) own the means of production and seek profits.
What is capitalism?
100
The legal minimum hourly wage for employers.
What is minimum wage?
100
The rise in prices for consumer goods.
What is inflation?
100
The principle that the government should not meddle in the economy, also known as "let it be."
What is laissez-faire?
200
Economic system which the government is deeply involved in economic decisions with a role as a regulator, consumer, subsidizer, taxer, employer, and borrower.
What is a mixed economy?
200
An organization of workers intended to engage in collective bargaining.
What is a labor union?
200
This is the key measure of inflation that relates the rise in prices over time.
What is CPI (Consumer Price Index)?
200
Policy that describes the impact of federal budget (taxes, spending, and borrowing) on the economy.
What is fiscal policy?
300
Businesses with vast holdings in many countries, most have annual budgets exceeding those of many foreign governments.
What are multinational corporations?
300
An agency created to regulate stock fraud.
What is the SEC (Securities and Exchange Commissions)?
300
Measured by the BLS (Bureau of Labor Statistics), this is the proportion of the labor force actively seeking work but unable to find jobs.
What is an unemployment rate?
300
The manipulation of the supply of money in private hands by which the government can control the economy.
What is monetary policy?
400
He was "the father of American economy" and the first U.S. secretary of the Treasury.
Who was Alexander Hamilton?
400
Negotiations between representatives of labor unions and management to determine pay and work conditions.
What is collective bargaining?
400
The principal fact-finding agency for the government in the field of labor economics and statistics.
What is the BLS (Bureau of Labor Statistics)?
400
Main instrument for making monetary policy in the U.S. Created by Congress in 1913 to regulate lending practices of banks and eventually the money supply.
What is the FRS (Federal Reserve System)?
500
Economic system where the government is entirely absent from economic affairs.
What is a pure market economy?
500
With over 3,000 stores in the U.S. and 1,000 stores abroad, this store is known for deeply discounted prices BUT has been criticized for its labor practices.
What is Wal-Mart?
500
State with the highest unemployment rate as of March 2015.
What is Nevada?
500
The amount that you pay to borrow money for a house, car, etc.