The Depression
This 1929 event is often seen as the spark that began the Great Depression.
What is the Stock Market Crash?
As price increases, quantity supplied increases.
What is the Law of Supply?
Banks may offer these to keep money in the bank, while offering higher interest rates.
What is a CD account?
The maximum amount you can charge on your credit card.
What is credit limit?
The Company's Health!
What are liquid capital assets?
This environmental disaster in the Midwest forced thousands of farmers off their land and worsened the Depression.
What is the dustbowl?
The Price goes up and the quantity demanded goes down.
What is the Law of Demand
A product that's counted towards GDP.
What is a finished/final good?
Summarizes how trustworthy you are with credit.
What is a credit score?
This kind of credit card reward gives money back for purchases.
What is cash back?
People ran to get their money!
What are bank runs?
Keynes believed that this sector—not just consumers—must sometimes increase spending to boost the economy.
What is the Government?
Add it all up, then divide it by the population.
What is per capita GDP?
You can pay this amount, but it ain't all of it....
What is the minimum payment?
It's a for profit business!
What is a firm?
This massive federal program that provided MONEY to build projects like roads, bridges, and public art.
What is the WPA (Works Progress Administration)?
Keynes argued that recessions are caused by a lack of this.
What is demand/consumer spending?
Not a finished good calculated in GDP.
What are intermediate goods?
This fee is charged once a year for having certain “premium” credit cards.
What is an annual fee?
Cash, bank deposits, and easily sold investments.
What are liquid capital assets?
This program began to provide some income to retired workers.
What is Social Security?
The central bank could stimulate the economy by lowering this cost of borrowing.
What are interest rates?
This word describes GDP that has not been adjusted for inflation.
What is Nominal GDP?
When you don’t pay your balance in full, the bank charges this percentage on what you owe.
What is APR?
They make a living providing capital...for equity of course.
What is a venture Capitalist?
This New Deal program insured Americans’ bank deposits, restoring confidence in the banking system.
What is the FDIC?
How much money a bank has on hand.
What is a reserve ratio?
Its GDP, but adjusted for inflation.
What is real GDP?
Credit is really just this.
What is a loan?
Commodities have this.
What is fungibility?
This labor force built Bogus Basin Road!
What is the CCC?
Keynes thought wages are slow to adjust to changes!
What is Price Stickiness?
It calculates the average change in prices for a “basket” of goods and services purchased by consumers.
What is the CPI (Consumer Price Index)?
Using your credit card to withdraw cash often results in this costly fee plus immediate interest.
What is a cash advance fee?
A temporary promotional interest rate on a credit card.
What is Introductory APR?
A famous author who wrote about the labor situation in California.
Who is John Steinbeck?
This is the name for Keynes’s belief that government spending can stimulate the economy during downturns.
What is a stimulus?
This measures the compounding interest you earn!
What is APY?
This is the ideal amount of your statement balance to pay to avoid paying any interest.
What is a statement balance?
Inflation is the general increase in these across an economy.
What are prices?