Market Economy
A Lamborghini can best be described as
A) An inferior good
B) A normal good
C) A luxury good
C) A luxury good
The categorization of a good can influence how it interacts with the market economy
What color is money?
green
Green is Mr Vasco's least favorite color
The rules for how the U.S. government functions are written in
A) The Declaration of Independence
B) The dictionary
C) The U.S. Constitution
D) The Applebee's menu
C) The Constitution
While the Constitution has evolved, it has been the guiding rules for America since 1789
Donald Trump's political party is Republican... what's Joe Biden's political party?
Democrat
So is Kamala
I want to buy a Whooper hamburger... where should I go to do that?
Burger King
The Whopper was introduced in 1957, it originally cost 37 cents
A new study shows that coffee consumption will lead to weight loss... will consumer demand for Starbucks increase or decrease?
Increase
Consumer demand can be influenced by many variables, including expectations
This card may be declined if there is not enough money in your account...
A) Credit Card
B) Debit Card
B) Debit Card
Debit cards allow you to pay with money you have, while credit cards allow you to borrow money and pay it back later
America has 3 branches of government... name them
Executive, Legislative, Judiciary
The branches support each other through a system of checks and balances
Is the death penalty used in New York?
NO... about half of American states use the death penalty, New York is not one of them
What does Plankton constantly try to steal from Mr. Krabs?
The Krabby Patty Secret Formula
Ravioli Ravioli iykyk
Which of the following is a complimentary good for cream cheese?
A) butter
B) supermarkets
C) bagels
D) pancakes
C) Bagels
Complimentary goods are often bought and used together
According to a prominent study, what percentage of millionaires went to public state colleges?
A) 17%
B) 30%
C) 46%
D) 62%
D 62%
Attending more expensive private schools is not an indicator of future financial success
How many senators does Mississippi have?
2
Every state has 2 senators, but The House of Representatives is determined by population
The majority of gun deaths in America are a result of...
A) suicide
B) homicide
C) mass shooting
D) accidental shootings
A) suicide
Over 20,000 Americans die each year from suicide by gun
Drake's full name is...
Aubrey Drake Graham
Too Good is Mr Vasco's favorite Drake song
Identify three differences between capitalism and socialism.
Capitalism has: lower government involvement... lower taxes... more individual ownership of land/business... a larger wealth gap... a free market determined by supply/demand... fewer social services like free healthcare/college/welfare programs
What is currently the most valuable company in the world (by market cap)?
Nvidia... with a market cap of ~$4.1 trillion
Microsoft and Apple are close though...
Who is New York State's Governor?
Kathy Hochul
In 2021, she replaced Andrew Cuomo because he was being a naughty guy
In America, the average woman earns about ____% as much as the average man
About 80-85%
On average, for every $1.00 a man earns, a woman earns $.80-$.85. The gap is closing though
Who has the number 1 and number 2 most followed Instagram accounts?
Cristiano Ronaldo (~650 million) and Lionel Messi (~500 million)
3, 4, and 5 are Selena, Kylie, and Dwyane
Which state has the highest minimum wage?
Washington... $16.66 (or Washington DC at $17.95)
America also has a federal minimum wage of $7.25 that states can't go below
About how much total American currency exists? Guess within 20%
~$2.4 trillion
most money is "digital" ...it's complicated
In order, name the last 8 presidents
Donald Trump... Joe Biden... Donald Trump... Barack Obama... George W Bush... Bill Clinton... George H.W. Bush... Ronald Reagan...
According to the Guttmacher Institute, about how many total legal abortions were there in America in 2024? Guess within 10% of the answer.
About 1,038,000
Since Roe v Wade was overturned in 2022, about 15 states have adopted full abortion bans
How old is Selena Gomez?
33
Her first acting gig was at 7 years old on Barney and Friends