Financial Crisis
What is the "Black Tuesday" referred to
The Great Depression
This term describes a market form where a market or industry is dominated by a small number of sellers.
Oligopoly
What is a cause of energy prices increasing?
Russia Ukraine War
This indicator measures the total value of all goods and services produced over a specific time period within a country's borders.
GDP
Will you major in Economics
Yes
This term is used to describe a situation where asset prices are significantly higher than their intrinsic values
This is the government authority responsible for regulating the pharmaceutical industry in the United States.
FDA
What election is happening in the US(Not presidential)
Primary election
This economic theory says that government spending should increase during economic downturns to boost demand.
Keynesian Economics
This index measures a country's social and economic progress beyond just GDP, including life expectancy and education.
HDI
This term refers to the central banking system of the United States.
Federal Reserve
This term refers to the exclusive right granted to an inventor to manufacture, use, or sell an invention for a certain number of years.
This is a cryptocurrency exchange firm that filed bankrupcy in 2022.
FTX by Fried Sam Bankman-Fried
What is Adam Smith's "invisible hand"?
This economic theory suggests that the market will naturally regulate itself through the competition of self-interested individuals.
This term refers to the process by which businesses or other organizations develop international influence or start operating on an international scale.
Globalization
This international institution, based in Washington, D.C., provides financial assistance and advice to countries struggling with economic stability.
IMF(International Monetary Fund)
This term describes the ethical issue of setting high prices for lifesaving drugs, beyond what patients in low-income brackets can afford.
Price Gouging
Name 2 trade agreements
NAFTA and ASEAN
This concept refers to a policy of maintaining low inflation and low unemployment through control over the money supply and interest rates.
Monetary Policy
What is leapfrogging
This theory suggests that underdeveloped nations can leapfrog stages of development by adopting modern technologies.
This financial instrument allows the holder the right, but not the obligation, to buy or sell a stock at a specified price before a certain date.
Option
This act, passed in 1984, allows for the expedited approval of generic drugs and establishes legal frameworks for their market exclusivity.
Hatch-Waxman Act
What is COVAX?
This international effort, formed in response to the COVID-19 pandemic, aims to ensure equitable access to COVID-19 vaccines for all countries.
This theory explains how countries trading leads to an increase in economic efficiency and consumer welfare.
Comparative Advantage
Will you come to the club next week
Yes