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Fundamentals
Micro
Macro
International
Personal Finance
100
A person decides to spend $20 on a ticket to a football game instead of buying a warm jacket for $20. What is the opportunity coast of this decision?
What is the benefit of owning a warm jacket
100
Different societies have used different types of money. The MAIN requirement for any type of money to become a medium of exchange is that it is
What is accepted as payment
100
The consumer price index is a measure of
What is inflation
100
A tax on imported goods is also called
What is a tariff
100
Name the three kinds of investments
What is bonds, stocks and mutual funds
200
A teenager named Rosa started a pet-walking business. She found customers and hired workers for her business. What productive resource does Rosa represent?
What is entrepreneurship?
200
The payments a business makes for capital expenses are known as
What is interest
200
Who is responsible for the monetary policy of the U.S.?
What is the Federal Reserve System
200
What nations make up the trade bloc of NAFTA?
What is US, Canada and Mexico
300
Pablo starts a taxi cab business. He rents a garage, buys three taxi cabs, hires three drivers, and advertises in the local newspaper. Which of his actions represents capital investment?
What is buying three taxi cabs?
300
Minimum Wage is an example of
What is a price floor that creates a surplus
300
If GDP is decreasing and the unemployment rate is increasing, which fiscal policy would the government MOST likely use?
What is decrease taxes
300
Name the three trading blocs
What is NAFTA, ASEAN and the EU
300
Regressive taxes always put a greater burden on
What is the poor
400
A country is currently investing in new technology for all its businesses. What direction would the curve shift to show how this investment will affect production?
What is a shift to the right
400
The equilibrium price of a product is determined by the interaction of
What is supply and demand
400
What is the relationship between a budget deficit and national debt?
What is A budget deficit adds to the size of the national debt.
400
The opportunity cost of producing sugar is higher in the US than Nicaragua. Therefore, we import sugar. Nicaragua's opportunity cost to produce fertilizer is too high. Therefore, we export it to them. When we import sugar and export fertilizer to Nicaragua, the process is called a
What is comparative advantage
400
Sales Tax is an example of what kind of tax?
What is a regressive tax
500
The MAIN reason that modern command economies have failed is
What is government decision-making leads to shortages and inefficiencies
500
You see three TV commercials for different shampoos, each of which promises a special benefit that the others lack. Which market structure do the shampoo companies demonstrate?
What is monopolistic competition
500
Factory workers are out of work because their factories have closed. This is what type of unemployment
What is Structural unemployment
500
If a nation has a negative balance of trade, this results in a
What is trade deficit
500
What kind of insurance would pay a monthly income to people who are unable to work for an extended period?
What is disability insurance