Unit 1
Unit 2
Unit 4
More unit 4
Presidents
100
Identify two examples of a non-renewable resource
Coal and oil
100
What are some ways to get and keep a good credit score?
Only one or two credit cards. Make payments on time. Keeping jobs.
100
For the supply and demand graphs of money, what is along the Y axis (instead of the normal "price")
Interest rates
100
What does a Lorenz Curve show?
Income inequality
100
Who is this? 
Franklin Roosevelt
200
What are the four factors of production?
Land, Labor, Capital, Entrepreneurship
200
What is the possible range of a credit score?
350-800
200
Differentiate between inflation and stagnation
Inflation refers to a sustained increase in the general price level of goods and services in an economy over a period of time. Stagnation describes a period of slow or no economic growth
200
How many Federal Reserve banks are there and which headquarters are we (in South Carolina) assigned to?
12 - Richmond, VA
200
Who is this
Andrew Jackson
300
What are two "fixities" in regards to a possibilities production frontier?
Fixity of time
Fixity of resources
Fixity of technology
300
Differentiate between a debit and credit card
Debit coming from checking account, small purchase. Credit card pay later, normally larger purchases.
300
Identify one thing at the far LIQUID end and one thing at the far ILLIQUID end of the spectrum.
Far liquid Middle Far illiquid
Cash Stocks used cars real estate jewelry
300
What are the four types of unemployment?
Seasonal, structural, frictional, cyclical
300
Who is this?
Jimmy Carter
400
Define marginal cost
the cost added by producing one additional unit of a product or service
400
What is the purpose of the FDIC
To federally ensure your money is safe in a bank
400
What does price index tell us and what is the equation?
A number that tracks changes in the prices of a specific basket of goods and services over time
Price Index = (Cost of the current year basket / Cost of the base year basket) X 100
400
Why would the federal reserve (FED) increase and decrease the supply of money?
Increase to stimulate the economy
Decrease if inflation is getting too high
400
Who is this?
Woodrow Wilson
500
Define law of diminishing returns
a principle stating that profits or benefits gained from something will represent a proportionally smaller gain as more money or energy is invested in it
500
Differentiate between principal and interest
Principal is the amount of money that is borrowed from a creditor
Interest is the amount of money that is charged over time for using credit, written out as a percent of the principal
500
Identify one thing NOT reflected in a country's GDP?
Second hand sales such as used cars
Purchasing of stocks
500
What is the GDP formula?
GDP = G + In + C + ($EX - $IM)
500
Who is this?
Alexander Hamilton