Econ definitions
Econ graphs and tables
People, history, and current events
Random Finance
Stocks and Bonds
100

What is inflation?

A sustained increase in the price level of an economy (reduces the purchasing power of a dollar)

100

What is this graph called?


Business cycle

100

Choose one: Adam Smith, John Maynard Keynes, Karl Marx

And say one defining characteristic about this economist.

Smith: 1776 Wealth of Nations, invisible hand, minimal govt interference

Keynes: FDR's advisor during Great Depression, macroeconomics, advocate for more govt intervention

Marx: father of communism, "The Communist Manifesto", classless society

100

Name one way a business raises money

1. Loans

2. Investors

3. Stocks

Etc.

100

Name one type of stock and explain it

Not all answers but:

1. Blue-Chip 

2. Growth 

3. Dividend 

4. Penny 

200

Name 3 types of taxes.

progressive, regressive, proportional, sales, excise, property, carbon, income, tariff (any 3 is ok)

200

Identify the supply and demand curves, and the market equilibrium point on this graph.


Supply - blue

Demand - red

Equilibrium - intersection of S and D

200

The 2008 recession was caused by a speculative bubble bursting in which specific market?

Housing

200

What is one finance app that uses AI

Robinhood, Mint, Pocketgaurd, Acorn, etc.

200

Name one type of bond and explain it

1. Government 

2. Municipal 

3. Corporate

4. Junk

300

What does GDP stand for? Define it as specifically as possible.

Gross domestic product - value of all final goods and services made within a country during a specific period.

300

The Phillips Curve shows an inverse relationship between what two things?

Inflation and unemployment


300

What is the name of the economic program that Franklin D. Roosevelt created to address the Great Depression?

BONUS (100 pts): name one specific aspect of this program - could be a governmental program created, etc.

The New Deal


BONUS: social security, FDIC, SEC, WPA, National Labor Relations Board, etc.

300

Name 2 types of businesses and explain them

1. Sole Proprietorship

2. LLC

3. C-Corp

4. Franchise

5. Non-Profit

300

What is the difference between the S&P 500 and Dow Jones Industrial Average

S&P 500 covers 500 market-cap stocks while the Dow Jones covers 30 blue-chip stocks

400

What is a discouraged worker? Are they counted in the unemployment rate?

1. People who don't have a job and have given up looking for one

2. No

400

Fill out this table (100 points for each right answer): 

and BONUS (100 pts): which good has the problem of the tragedy of the commons?

Note: artificially scarce goods = club goods

BONUS: common good

400

Explain the Gamestop incident

A bunch of small investors on Reddit started buying shares of GameStop from it to go bankrupt. GameStop's stock price rose from $20 to $500 in just a couple of weeks and the hedge funds who bet on GameStop's downfall would lose a lot of money.

400

What is ML

An algorithm that reviews huge amounts of data for one stock and predicts if the stock price will rise or fall. 

400

A stock has an EPS of 28.88 and a P/E Ratio of 13.23, explain what this means

BONUS: Find the stock price

EPS: The company earns $28.88 in profit for every stock sold

P/E Ratio: How much investors are willing to pay for $1 in profit of the companies earnings

BONUS: $382.01

500

Name two limitations of GDP as a measure of how good an economy is doing. (i.e. Name two ways GDP is an inaccurate economic indicator.)

Excludes non-market transactions (like unpaid work, any black market trade), doesn't account for income inequality, doesn't account for negative externalities like pollution

500

What macroeconomic concept does the long run Phillips Curve represent?


Natural rate of unemployment (the unemployment rate that exists when an economy is producing the full employment output, and when there is no recession or expansion. This is NOT 0%!)

500

What was Trumps ORIGINAL plan on tariffs

1. 10% tariff on all countries

2. A higher individualized tariff for countries that the U.S. has a large trade deficit with

500

What are 2 of the 5 ways credit score is calculated

1. Payment History

2. Total Debt

3. Length of Credit History

4. New Credit History

5. Types of Credit Cards Used

500

What is the difference between Limit and Stop Order

Limit order is when you buy a stock only if it hits the price you want it to while stop order is when you sell a stock at a set price