Trade
A tax placed on imported goods is called a ________?
Tariff
What is the most profitable designer company?
Louis Vuitton
How does a company having a sale affect demand and supply?
A. Demand Decreases, Supply Increases
B. Demand Decreases, Supply Stays the Same
C. Demand Increases, Supply Decreases
D. Demand Increases, Supply Stays the Same
D. Demand Increases, Supply Stays the Same
When a country sells goods to another country it is called ________ and when a country buys goods from another country it is called ________?
Exporting, Importing
If a town provides a single cable tv provider such as Comcast, then this is an example of a ________.
A. Monopoly
B. Oligopoly
C. Monopsony
D. Perfect Competition (Perfectly Competitive)
A. Monopoly
If the U.S. dollar strengthens against the Japanese yen, American tourists visiting Japan will find their money has ______.
A. Less Purchasing Power
B. More Purchasing Power
C. The Same Purchasing Power
D. None of the Above
B. More Purchasing Power
When a country sells more goods abroad than it buys, it has a trade ________.
Surplus
To pay off the United States national debt, each citizen would have to pay $________. (Guess must be within $15,000 of the correct answer)
$110,000
Nike releases limited-edition sneakers that sell out instantly. The high demand and low supply show the economic principle of ________.
Scarcity
Which country is the United States' largest importer?
A. China
B. Japan
C. Mexico
D. Canada
C. Mexico
According to the Big Mac Index, if a Big Mac costs less in Mexico than in the U.S. after accounting for the exchange rate, it suggests that the Mexican peso is ________ compared to the U.S. dollar.
Undervalued
When a country’s currency depreciates relative to other currencies, its exports become ________ for other country's to purchase.
Less Expensive
A countries ________ indicates the maximum quantity a country can produce of two goods.
Product Possibilities Curve
What is currently the world's most profitable company?
A. Amazon
B. Saudi Aramco
C. Apple
D. The Walt Disney Company
B. Saudi Aramco
What is the U.S. institution that controls the money supply, sets interest rates, and regulates banks to help keep the economy stable?
The Federal Reserve