Current Events
What tariffs did the US impose on Chinese goods?
145%
What do you call it when the price of all goods/services rises over a period of time?
Inflation
What is the largest characteristic of a monopoly?
A monopoly is usually one of the only suppliers of a good/service.
What do lower interest rates encourage people to do?
Spend or borrow more (don't save)
Who plays golf?
Kevin
In 2025, which country surpassed China to become the world’s largest exporter of electric vehicles (EVs)?
South Korea
eg. Hyundai, KIA, etc
Which term refers to lending money to a bank or corporation?
Bond
What is the key characteristic of a perfectly competitive market?
Many competitors and buyers.
What does the fed do if inflation rates are too high
Raise interest rates.
Which leader is a huge fan of reptiles?
Markus
As of April 2025, what is the approximate current inflation rate in the United States?
2.4%
Market for a good with little/limited competition and only a few sellers. eg. Oil companies, Airlines, Soft-drinks
What is a Nash Equilibrium in game theory?
When no player can benefit by changing strategy unilaterally (e.g., two competing firms keeping prices high).
True or False: The Fed prints paper money.
False! The treasury is responsible for printing. The fed just distributes the money.
Who used to go to SFS
Aarav
Which country recently overtook Japan to become the world’s third-largest economy in 2024?
Germany
Remember the determinants of GDP?
Investment + Consumer Spending + Government Spending + Net Exports
Can a firm in a perfectly competitive market make economic profit in the long run?
If a recession happens, should the Fed raise or lower interest rates?
Lower to encourage more spending
Which leader has watched Black Adam more than 10 times?
Bryan
The U.S. Treasury announced a new $1,000 bill featuring which historical figure?
Harriet Tubman
What is the theory regarding decreasing satisfaction over time as consumption increases?
Diminishing marginal utility
If a market is not operating at full efficiency, resulting in decreased welfare, what do you call this gap?
Deadweight Loss
What is the difference between the Federal Reserve’s discount rate and the federal funds rate?
The discount rate is the interest charged to banks borrowing from the Fed. The federal funds rate is the interest rate charged between banks when they lend to each other.
Who are the senior leaders?