Personal Finance
Supply and Demand
Government
The Federal Reserve
Miscellaneous
100
This is a loan on a house
What is a mortgage
100
This type of market has only a few producers
What is an oligopoly
100
The majority of government revenue comes from this tax
What is the personal income tax
100
A decline in the GDP over 6 months is called this
What is a recession
100
In this type of government, prices and goods are determined by a central comittee
What is a Command Economy
200
In this type of governmental system, prices are set by the market through supply and demand
What is Capitalism
200
A tax levied primarily on the poor is called this
What is a regressive tax
200
This person is the head of the Federal Reserve
What is the Federal Reserve Chairman (Janet Yellen)
200
This is the basket of goods used by the Federal Bureau of Labor Statistics to determine the level of inflation
What is the CPI
300
This is the amount that needs to paid up up front on a car or house
What is a down payment
300
A new technology, a decrease in the price of inputs, or a decrease in excise taxes would all increase this
What is Supply
300
Even in a Free Market Economy, the government still needs to do this
What is enforce contracts
300
This type of monetary policy sets the interest rate low so that it is easy to get cash
What is loose money policy
300
This is the general name for how the world and the world's economies are becoming more interconnected
What is globalization
400
This type of account usually generates no interest
What is a checking account
400
This law says that the more you consume, the less utility per unit you receive
What is the law of diminishing marginal utility
400
In order to attract investors, treasury bonds repay the borrowed amount with this
What is interest
400
This is the name of the type of policy controlled by the Federal Reserve
What is monetary policy
400
This is a type of trade barrier that only allows a certain amount of goods to be imported
What is an import quota
500
This is the name of the organization that insures all types of personal savings accounts up to $250,000
What is the FDIC
500
A country that can produce at a lower opportunity cost is said to have this.
What is a comparative advantage
500
The IRS collects income taxes through this system
What is witholdings
500
Even more than inflation, the Federal Reserve is afraid of this, the fall in consumer prices
What is deflation
500
Keynes thought that a fall in this was the main cause of the Great Depression
What is Aggregate Demand
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