Economists use this to make predictions, inferences, and draw conclusions.
What is data?
100
FICA stands for this
What is the Federal Insurance Contributions Act?
100
Those without a 401(k) can choose to invest in an IRA, which stands for this.
What is an Individual Retirement Account?
100
In the PACED method for cost-benefit analysis, the A stands for this.
What is Identify Alternatives?
100
How you tell the insurance company that you would like to use your insurance to help you pay
What is an insurance claim?
200
This is an estimate of expected income and expenses for a future period of time
What is a budget?
200
This is the amount of money earned before taxes and other deductions.
What is gross pay? (or gross income, gross wages, gross earnings)
200
This is the set amount of money added to a loan amount as a charge for borrowing.
What is the interest rate?
200
In decision making based on the PACED method, you evaluate alternatives based on
What is the identified criteria?
200
This protects someone's home and possessions inside the home in the case of damage or theft.
What is homeowner's insurance?
300
A survey of economists found that 85% think the US should eliminate these.
What are agricultural subsidies?
300
This is the amount of money left after taxes and deductions.
What is net pay? (or net income, take home pay, or net earnings)
300
This type of savings account earns no interest.
What is an Islamic Savings account?
300
The quantity of other goods sacrificed to get another unit of that good is this term.
What is the opportunity cost?
300
Renter's, homeowner's, and auto insurance all fall into this insurance category.
What is property insurance?
400
GDP is an economic indicator and it stands for this.
What is Gross Domestic Product?
400
This is a retirement savings plan at work that is tax deferred.
What is a 401(k)?
400
This is a loan that an investor can make to the U.S. government.
What is a bond?
400
This term is an expected reward or penalty that motivates a person to take an action.
What is an incentive?
400
This helps pay for medical expenses and takes into account a person's age, lifestyle, and family history to determine their cost.
What is health insurance?
500
This eliminated almost all tariffs between Mexico, the U.S., and Canada.
What is the North American Free Trade Agreement (NAFTA)?
500
This feature allows employees to deposit their paychecks into their checking or savings accounts.
What is direct deposit?
500
This type of account often has a higher interest rate, more restrictions, and a minimum opening deposit compared to a regular savings account.
What is a money market account?
500
This term refers to the fact that people have unlimited wants and needs, but limited (finite) resources and they must choose what is most important to use their resources on.
What is scarcity?
500
This is the amount of money you have to pay for your medical care before your insurance company will share the costs.