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International Economics
Macroeconomics
Personal Finance
Miscellaneous 1
Miscellaneous 2
100
A situation in which a country or company can produce a good at a lower marginal cost and opportunity cost than a competitor.
What is a Comparative Advantage?
100
This type of policy allows the government to spend, tax or borrow in order to influence the economy.
What is Fiscal Policy?
100
This is the BIGGEST determinant of the amount of money that you will earn in your lifetime.
What is your level of education?
100
The GDP deflator.
What is the Consumer Price Index?
100
A general rise in prices
What is Inflation?
200
The equation for Net Exports
What is Exports minus Imports?
200
If the Federal Reserve would like to reduce the nation's money supply they should do one or a combination of these three things. Name one.
What are sell securities on the open market, increase the reserve requirement or increase the discount rate.
200
This type of tax decreases as a person's income increases
What is a Regressive Tax?
200
Principal x Interest x Time = this
What is Simple Interest?
200
A decrease in consumer spending caused by an increase in government deficits
What is Crowding Out?
300
When this occurs economists say countries are trading freely. Both countries are better off as a result.
What is Voluntary Exchange?
300
GDP is a measure of this cycle.
What is the Business Cycle?
300
This type of investment is a combination of stocks, bonds, and other securities. It allows people to pool their money in order to have increased purchasing power and the ability to diversify.
What is a Mutual Fund?
300
Known as the FICA Tax or the Federal Insurance Contributions Act tax. Name the two programs that benefit from this tax.
What are Medicare and Social Security?
300
Actual prices vs. prices adjusted for inflation. Put your answer in this order.
What are Nominal and Real?
400
DOUBLE JEOPARDY!
What are tariff, quota, embargo, government standards and subsidy?
400
If the United States is experiencing a decline in unemployment, a rise in real GDP and stable price levels where are they in the business cycle?
What is an Expansion or Peak?
400
This type of insurance pays the beneficiary the face value of the policy and has a set period of time. Its premiums are based on the age, occupation and health condition of the insured.
What is Term Life Insurance?
400
This report gives a score based on your payment history for auto loans, home loans, and charge cards. It contains other information such as your address for the past 10 years and employment history.
What is a Credit Report?
400
He suggested that government should have a role in the economy to influence business cycles. His theories were used during the Great Depression and have become popular again during the current recession.
Who is John Maynard Keynes?
500
Comparative Advantages lead countries to do this, i.e., concentrate on what they do best resulting in more efficient production.
What is Specialize?
500
This measures changes in the average prices of a market basket of goods and services that a typical family consumes. It is used to calculate real GDP.
What is the Consumer Price Index (CPI)?
500
This government agency insures money in checking and saving accounts, certificates of deposits and other bank accounts in case of a bank failure.
What is the Federal Deposit Insurance Corporation (FDIC)?
500
This committee is made up of 12 members of the Fed and decides whether to buy or sell securities to influence the money supply
What is the Federal Open Market Committee (FOMC)?
500
DAILY DOUBLE!!
What are budget deficit and federal/national debt?