What is The difference between the value of imports and the value of exports (in one year).
100
What is a deductible
What is The amount you must pay up front before the company will pay abything
100
What is an exchange rate
What is The price of one nation's currency in terms of another nation's currency
200
What are progressive taxes
What is Tax where percentage of income paid in tax rises as level of income rises
200
What is simple interest
What is Charged interest ONLY on the original amount of loan
200
What does Deficit mean
What is Balance of trade (imports exports)
200
What is a premium
What is The amount of money you pay per month, per every 6 months, per year, etc.
200
Where can you find exchange rates
What is Web searches, phone applications, online databases.
300
What are regressive taxes
What is Tax where percentage of income paid in tax goes down as income rises
300
What is compound interest
What is Charged in the original amount as well as any added interest.
300
What does Surplus mean
What is Positive balance of trade (exports exceeds imports)
300
What is the relationship between deductibles and premiums
What is The higher the deductible, the lower the premium ; the lower the deductible, the higher the premium (inverse relationship)
300
How do some groups benefit while other groups lose when exchange rate change
What is When the dollar appreciates( is strong), we will import more but export less. When the dollar depreciates (is weak), we will import less but export more.
400
What are proportional taxes
What is Tax in which percentage of income paid in tax is the same regardless of the level if income
400
What are the five types of insurance
What is Car Insurance; Health Insurance; Property Insurance; Disability Insurance; Life Insurance
400
What is the difference between the balance of trade and balance of payment
What is
Balance of trade is the difference between imports and exports.
Balance of payments is the difference between credits (money coming into your country) and debits (Money leaving your country).
400
What is the main difference between pure competition and monopolistic competition
What is Firms in pure competition are selling nearly identical, rather than differentiated goods
400
Comparing changes in quantity demanded to changes in prices is related which economic concept
What is Elasticity
500
What is the purpose of investing in education and training
What is The more you invest in education and training, the more companies will want to hire you. Thus, the higher your income will be.
500
What factors give a person good credit
What is Paying bills on time, having a steady working history, opening a checking/savings account, not defaulting on bills/loans
500
What are the arguments for and against free trade
What is
FOR: National Defense, Infant industries , domestic jobs, and to keep money in the US.
AGAINST: Free trade is favorable to consumers, free trade can create jobs through exports
500
Competition and free enterprise are most common in which type of economics system
What is Market
500
What provides the greatest incentive for entrepreneurs to take risks