An increase in the price of coffee at Clemens Perk leads to an increase in Clemens Perk's revenue. What can we say about the elasticity of demand for Clemens Perk coffee?
It is inelastic
100
Name one of the two components of the Misery Index.
Inflation rate or unemployment rate
100
Name one type of trade restriction.
Import tax, embargo, quota, etc.
100
To the nearest thousand, how many students attend CSB/SJU?
4,000
100
Complete this common economic phrase: There is no such thing as a free _____.
Lunch
200
If the SJU Refectory workers can wash 500 trays per hour, and the Refectory is experiencing increasing returns to scale, how many trays will the Refectory be able to clean if they double their input of labor?
More than 1000
200
What type of unemployment, cyclical, structural, seasonal, or frictional, do construction workers in St. Joe experience during the winter months?
Seasonal Unemployment
200
Daily Double!
They both gain
200
Who is the current chairman of the Board of Governors of the Federal Reserve?
Janet Yellen
200
In 2014 to the nearest $5,000, what is the average starting salary for a student who graduated with an economics degree?
$50,000
300
Coke and Pepsi, Big Macs and Whoppers, butter and margarine, and Valley Fair and Camp Snoopy are each examples of goods which are what for each other?
Substitutes
300
If the scholarship program at CSB/SJU were a progressive system based on high school grades, what would happen to the rate of scholarship money given as high school grades increase?
The rate of scholarship money given increases
300
Suppose the monks and sisters at CSB/SJU export bread and import shoes. What can be said about net exports if the value of shoes imported exceeds the value of bread exported?
Net exports is negative
300
What term has been used recently to describe the Federal Reserve's stimulation of the economy by buying massive amounts of government securities from the market?
Quantitative easing
300
What is the name of the CSB/SJU Economics Club Vice President?
Alex Stephens
400
Suppose Gary's Pizza and Drinks at Sexton are complementary goods. What will happen to the price of Gary's Pizza if the price of Drinks at Sexton decreases, all else equal?
Price of Gary's Pizza increases
400
Suppose CSB/SJU decides to give students more flex money in their meal accounts. Due to this increase in flex, the economy around CSB/SJU experiences an increase in GDP which is higher than the increase in flex money. What effect does this simulate?
Multiplier Effect
400
Measured in terms of total value of merchandise trade, what country is the United States' number one trading partner?
Canada
400
Within .2%, what is the current U.S. unemployment rate?
5.9%
400
Daily Double!
Ben Bernanke
500
Suppose CSB/SJU students were the only purchasers of pizza in the area. What would the CSB/SJU student body be considered in regards to the purchasing of pizza?
A monopsony
500
What would happen to the unemployment rate if individuals who were not in the labor force become students at CSB/SJU and get an on-campus job?
Unemployment rate remains the same
500
The Johnnie football team can produce 35 points a game while the Tommie football team can only produce 10 points per game. Which team has a comparative advantage in point production per game?
Not enough information
500
To the nearest trillion of dollars, how large is the United States Private Student Loan Debt?
$1 Trillion
500
Who wrote the book entitled "An Inquiry into the Nature and Causes of the Wealth of Nations" published in 1776?