Candy History (1.2)
This term refers to the value of the next best alternative that must be given up when making a decision.
What is opportunity cost?
This type of government policy automatically increases spending or decreases taxes during a recession without requiring new legislation.
What are automatic stabilizers?
In the circular flow of the economy, firms receive money from this group.
What are Households?
These tow groups are responsible for long run self adjustment.
What are Businesses and Workers?
Country A produces 100 cars or 200 computers in a year, while Country B produces 50 cars or 150 computers. This country has the comparative advantage in producing computers?
What is Country B?
This fighter, known for his dominant reign in the middleweight division, successfully defended his title 10 times and is often regarded as one of the greatest MMA fighters of all time.
Who is Anderson Silva?
This candy, introduced in 1923, was named after a horse owned by the candy maker’s family.
What is Snickers?
This character often says, "Suit up!" and is known for his playbook of elaborate schemes to meet women.
Who is Barney Stinson?
What is the rarest mob you can find?
What are Pink Sheep?
This is how William Afton died.
What is He was springlocked in his gold bonnie suit?
The number of films in the Fast & Furious franchise as of 2023.
What is 10?
True or False: The GDP deflator is a more comprehensive measure of inflation than the Consumer Price Index (CPI) because it includes all goods and services produced in an economy, not just a fixed basket of consumer goods.
Answer: True
The shape of this curve demonstrates the trade-offs between producing two different goods, showing that opportunity cost increases as production shifts between goods.
What is the Production Possibilities Curve (PPC)?
Two common examples of automatic stabilizers are unemployment benefits and this tax system, which adjusts based on income levels.
What is a progressive tax system?
This term describes the total market value of all goods and services produced within a country in one year.
What is Gross Domestic Product (GDP)?
In a recessionary gap, this describes how workers will adjust, and this describes how businesses will adjust.
What is: Workers will adjust wage expectations downwards, Businesses will adjust price expectations downwards?
The principle of comparative advantage states that countries should specialize in producing goods for which they have the lowest __________ cost.
What is "opportunity"?
This Brazilian jiu-jitsu expert won the first-ever UFC event in 1993, showcasing the effectiveness of grappling in mixed martial arts.
Answer: Royce Gracie
The first candy to be individually wrapped in wax paper was introduced in 1907 by Milton S. Hershey.
What are Hershey's Kisses?
This NYC bar serves as the main hangout spot for the group throughout the series.
What is MacLaren's Pub?
This is how a a creeper becomes a charged creeper.
What is it gets struck by lightning?
This animatronic will attack you if you don't wind up a music box.
Who is Puppet/Marionette?
The number of films in the James Bond franchise since its inception in 1962.
What is 27?
When the nominal interest rate is 7% and the inflation rate is 3%,what will the real interest rate be?
Answer: 4%
A point inside the PPC represents this type of resource use.
What is inefficient use of resources?
Automatic stabilizers reduce the severity of economic fluctuations by influencing this key macroeconomic variable.
What is aggregate demand?
These are two items two things that would not be included in GDP.
What are: Used products, purely financial transactions (Social security, scholarships, grants, stocks, bonds), Services provided for no money?
This type of gap is highlighted by short run equilibrium being to the right of LRAS.
What is an Inflationary gap?
Even if a country has an absolute advantage in producing all goods, it can still benefit from trade by specializing in the good where it has a __________ advantage.
What is "comparative"?
Jon Jones holds the record for the most title fight victories in UFC history. How many title fight wins does he have?
Answer: 15
This colorful candy, originally called "Beantown Beans," was introduced in 1941 as a snack for soldiers during World War II.
What are M&M's?
This catchphrase, often used by Barney, emphasizes how amazing a moment is going to be.
What is "It's going to be legen—wait for it—dary!"?
This is how you find the stronghold?
What is throw an eye of ender?
This animatronic gave Scott Cawthon nightmares.
Who is Bonnie?
The count of main films in the Bourne series featuring Jason Bourne, played by Matt Damon?
What is 5?
The __________ is a measure of the average change over time in the prices paid by urban consumers for a market basket of consumer goods and services.
Answer: Consumer Price Index (CPI)