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Fundamentals
Microeconomics
Macroeconomics
International Economics
Personal Finance
100
This is an economic situation that is characterized by unlimited wants exceeding limited resources
What is scacity?
100
This serves as a medium of exchange for goods and services.
What is the role of money?
100
Consumption + Business Investments + Government Expenditures + Net Exports
What is the method for calculating GDP?
100
When a country can produce a good at a lower opportunity cost than another country.
What is comparative advantage?
100
People tend to respond to these in rational and predictable ways.
What are incentives?
200
The value of the best alternative forgone when a choice is made
What is Opportunity cost?
200
As prices rise, quantity increases.
What is the Law of Supply?
200
This is a type of unemployment that occurs primarily when Economies are in a contraction or recession.
What is cyclical unemployment?
200
An account that measures all foreign financial activity. It cannot be negative.
What is the balance of payments?
200
This type of investment has the highest risk, but also the greatest potential for a return on the investment.
What are stocks?
300
These are the two requirements in which makes trade beneficial for both parties.
What is voluntary and non-fraudulent?
300
Everyone's income increases, the price of a substitute good rises, everyone expects the price of a good to rise next week, or public perception of a good improves.
What are the causes of a demand curve to shift to the right?
300
Solutions that tend to address Inflation make existing unemployment worse and vice versa. Because this situation involves high inflation and high unemployment, it makes this situation difficult to fix.
What is stagflation?
300

Setting limits on the amount of a good that can be introduced into a country. Placing a tax on imports, and setting specific conditions for the quality of goods imported are all examples of this.

What are trade barriers?

300
Some economists argue because of its punitive nature towards lower incomes, that a sales tax is actually this.
What is a regressive tax?
400
This economic goal is best met by a command economy
What is equity/ security?
400
Double taxation, limited liability, and difficulty of start up are all key features of this.
What is a corporation?
400
When the FED is conducting open market operations, they are buying or selling this.
What are government bonds?
400
The EU, NAFTA, and ASEAN are all examples of this.
What is a Trading Bloc?
400
People that choose a lower monthly premium on their insurance policies have to pay this.
What are higher deductibles?
500
This is the role of the government when they break up monopolies and address shortages or surpluses
What is resolving market failures?
500
When there is a lot of competition, companies enter and exit the market often, and use a lot of advertising to make their product seem different.
What is Monopolistic Competition?
500
When the Fed buys treasury bonds, and congress cuts taxes.
What are expansionary policies?
500
This is a group that likely benefits from the appreciation of the U.S. dollar.
What are United States citizens traveling abroad/ United States citizens importing foreign products.
500
Character, Capital, Capacity, Collateral, Conditions
What are the 5 C's of credit worthyness?