Micro-Economics
This law states that as the price of a good increases, the quantity demanded for that good generally decreases.
What is the law of demand?
This is the total of all final goods and services produced in a country during a specific time period.
What is GDP?
This movie series follows the storyline of talking toys (including Woody and Buzz Lightyear)
What is Toy Story?
This US swimmer, with 23 gold medals, is considered the most decorated athlete of all time
Who is Michael Phelps
"I'm working late, 'cause I'm a singer..."
"...oh he looks so cute wrapped 'round my finger"
This measures how much the quantity demanded of a good responds to a change in price.
What is the price of elasticity of demand?
This term refers to the percentage of people in the labor force who are unemployed and seeking work.
What is the unemployment rate?
This 90s sitcom follows six friends living in NYC with catchphrases like "how you doing?"
What is 'Friends'
This team plays the Packers on Thursday (Dec 3)
Who is the Lions
"Well, I've never been better. Things are going my way..."
...I sleep like a baby, I never show up late for work.
These are costs that do not change with the level of output, such as rent or salaried employees.
What is fixed costs?
This term refers to the sustained increase in the general price level of goods and services over time.
This long-running reality TV show features contestants trying to outlast each other in various physical and mental challenges in a remote location
What is Survivor?
This US gymnast made history by being the first woman to land a triple double in a gymnastics competition.
Who is Simone Biles?
"My daddy served in the army, he lost his right eye..."
"...But he flew a flag out in our yard until the day that he died"
This principle suggests that, as a person consumes more of a good, the additional satisfaction (utility) from each extra unit decreases.
What is the law of diminishing marginal utility?
This organization is responsible for setting interest rates and managing the money supply in the US.
What is the federal reserve?
This 1994 film, starring Tom Hanks, features a man who inadvertently influences historical events while waiting for a bus in Savannah, GA.
What is Forrest Gump?
Which players won the Golden Glove for the Brewers in 2023?
Who are William Contreras and Tyrone Taylor?
"You spin my head right round, right round..."
"...when you go down, down"
This market structure has a single seller who controls the entire supply of a good or service with high barriers to entry.
What is a monopoly?
This is the process by which central banks increase the money supply, often by buying government bonds and assets.
What is quantitative easing?
This South Korean music group made history in 2020 with their song 'Dynamite'?
Who is BTS
This college football program has won the most national championships in the history of the NCAA (with 18 titles)
Who is Alabama?
"That is just so typically me, oh baby, baby. Oops, I did it again..."
"...I played with your heart, got lost in the game"