Fundamentals
Microeconomics
Macroeconomics
International Trade
Personal Finance
100
An economic system where production decisions are made by both individuals and the government.
What is mixed economy?
100
The purchase of a submarine by the government - this transaction is made in the
What is the product market?
100
A computer programer is laid off during an economic downturn
What is cyclical unemployment?
100
Condition when a nation's imports are greater than a nation's exports
What is trade deficit?
100
Group that suffers the most from rising prices
What is people of fixed incomes?
200
When society invests in education, it improves its standard of living by improving its
What is human capital?
200
The higher the price the more producers are willing to supply
What is the law of supply?
200
The condition that occurs when tax revenues are less than government spending in a given year
What is budget deficit?
200
The ability of one nation to make something at a lower opportunity cost than another nation
What is comparative advantage?
200
Cost you pay for insurance coverage
What is a premium?
300
MB=MC
What is a rational decision?
300
The condition at where the market is clear with no surplus or shortage
What is the market clearing price, equilibrium or where QS=QD?
300
If the government's fiscal policy involves stopping high inflation, what should Congress consider
What is raise taxes or cut spending?
300
A tax placed on an imported good
What is a tariff?
300
This tax has a more serious impact on the poor than on the rich
What is a regressive tax or sales tax?
400
The condition where people enter freely into an exchange
What is voluntary exchange?
400
Market where there are many buyers and sellers who sell slightly differentiated goods
What is monopolistic competition?
400
The Federal Reserve's main function
What is control the money supply?
400
A call for protecting domestic jobs
What is protectionism?
400
They offer higher risks and higher rewards but not the highest risk or rewards
What is a stock?
500
A kind of specialization that increases productivity
What is What is division of labor?
500
The condition that exists when there is a large increase in the price of a good but the demand does not change
What is inelastic demand?
500
The situation when the Fed buys government securities or lowers the discount rate
What is in a recession of business cycle downturn?
500
When the value of a nation's currency rises against another nation's currency
What is appreciation?
500
Most professional jobs require education level of at least
What is a four year college degree?
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