A situation in which a worker is employed in a job for which he is overqualified or in a part-time job when he is seeking full-time employment.
What is underemployment?
100
The price of one currency expressed in terms of another currency.
What is an exchange rate?
100
The price of borrowing and the return on savings.
What is the interest rate?
100
The number of times The Netherlands has won the FIFA World Cup.
What is zero?
200
Natural resources without a price mechanism.
What are common access resources?
200
Two consecutive quarters of negative GDP growth.
What is a recession?
200
A free trade area in which all members also agree on a common external trading policy with non-members.
What is a customs union?
200
A measure of the flow of funds from trade in goods and services, plus other income flows.
What is the current account?
200
The number of Star Wars movies that have been released.
What is seven?
300
When a firm is producing at minimum average total cost.
What is productive efficiency?
300
A tax structure in which individuals earning relatively high incomes pay a lower proportion of their income in taxes than those earning lower incomes
What is a regressive tax structure?
300
An extreme type of quota that allows no goods to be imported into a country.
What is an embargo?
300
A government-set maximum price on, for example, food prices or rents.
What is a price ceiling?
300
The name of Adele's latest album.
What is 25?
400
This happens to elasticity as you travel up a linear demand curve.
What is increases?
400
The key determinant of the short-run aggregate supply curve.
What are resource prices?
400
A decision to raise the value (or range) of the exchange rate
What is a revaluation?
400
The value by which an original injection is multiplied to determine its overall effect on economic activity.
What is the Keynesian multiplier?
400
The year the first episode of Glee aired.
What is 2009?
500
The factor/s that determine how the tax burden are distributed between producers and consumers.
What are relative elasticities?
500
Regulation that automatically increase government spending and reduce the level of taxation in a recessionary period (for example, a progressive tax system and unemployment benefits).
What are automatic stabilizers?
500
Short-term financial investments in assets like stocks or bonds.
What is portfolio investment?
500
A tool used to show the distribution of income in an economy.
What is a Lorenz curve?
500
The Answer to the Ultimate Question of Life, the Universe, and Everything