Miscellaneous
In this system, both the government and individuals/businesses make decisions regarding the economy.
What is a Mixed Economy?
This theory was developed by a British economist in the 1930s to help explain the Great Depression.
What is Keynesian Economics?
THIS is a measure of financial responsibility, and how high or low it is affects your ability to engage in financial risks such as purchasing a home or car.
What is a credit score?
This field explores how psychological factors like biases, emotions, and social influences affect economic choices.
What is behavioral economics?
In the realm of monetary policy, this is the agency that controls federal interest rates.
The Federal Reserve (aka The Fed)
This are of economics studies individual actors like consumers and businesses, focusing on how they make decisions and interact in specific markets.
What is Microeconomics?
This theory emphasizes individual action, subjective value, and the market process.
What is Austrian Economics?
THIS is what lenders are assessing when deciding whether to lend you the money to purchase a car or home--it is also the name of a strategy board game.
What is Risk?
In the game of "Finance 101," What two factors affect your ability to purchase a fancy car or large house?
What are credit score and income?
This area examines the economy as a whole, analyzing aggregate variables like GDP, inflation, and unemployment.
What is Macroeconomics?
This theory focuses on how government spending affects the economy.
What is Keynesian Economics?
What is return on investment?
(also accept potential future income)
This type of government intervention in the economies of other nations is highly contested, as some deem it absolutely necessary while others argue it encourages corruption and makes poorer nations dependent on wealthier ones.
What is foreign aid?
Tariffs are a form of THIS type of government policy that restricts international trade to support domestic industries.
What is protectionism?
*Daily Double!*
This economist and writer was a strong proponent of the principles of Austrian Economics, as evidenced in his famous work titled The Road to Serfdom.
Who is F.A. Hayek (or Friedrich Hayek)?
What is the interest rate?
This percentage measures how much more expensive a set of goods and services has become over a certain period--typically a year.
What is inflation?
These two types of economic policies show how the government can intervene to keep the economy on track.
What is fiscal and monetary policy?
This theory advocates for a free market economy with minimal government intervention, emphasizing the role of private property and individual choice.
What is Free Market Capitalism?
This type of student loan is ideal, since the government pays your interest while you are enrolled in school and for 6 months after you graduate.
What is a subsidized student loan?
*Daily Double*
THIS is a field of study within economics that focuses on improving fiscal, economic, and social conditions in developing countries.
What is development economics?