Show:
Economic Decision Making
Economic Systems
Money
Macroeconomics
Personal Finance
100
If you chose between a hotdog and pasta at lunch time, the one you do not choose is called THIS.
What is the opportunity cost?
100
The three basic economic questions are what to produce, how to produce it, and.....
What is "for whom"?
100
Economies without money use THIS inefficient form of exchange, which requires consumers to trade their goods for someone else's goods.
What is barter?
100
When the money supply increases too quickly, THIS may result.
What is inflation?
100
A debit card uses money from your own bank account while a credit card is THIS
What is a loan?
200
Every decision involves trade-offs because of this economic concept.
What is scarcity?
200
THIS economic system is characterized by custom, agriculture, and resistance to change.
What is a traditional economy?
200

Function of money: a price tag.

What is unit of account

200
This economic indicator measures the final sale price of all goods/services produced within a country.
What is Gross Domestic Product?
200

investments all have a relationship between ______ and reward

What is risk?

300

Figuring out what you will give up and gain by getting an extra hour of sleep is an example of THIS.

Marginal benefit/cost

300
In THIS economic system, the laws of supply and demand determine what is produced. Prices are also determined by the laws of supply and demand in this economic system.
What is a market economy?
300

This type of policy would be used with high inflation

What is contractionary policy

300

This is the amount of money banks are required to hold onto 

What is reserve requirement

300
Under the U.S. federal income tax system, people with higher incomes pay a higher rate of taxes. This is know as a __________ tax system.
What is "progressive"?
400
A factory building, the desks in a school, and an oven in a pizza shop are all examples of THIS type of resource...
What is physical capital?
400
Efficiency is the benefit of THIS economic concept, which means "pursuing a particular line or work".
What is specialization?
400

In a recession or period of slow growth, the Federal Reserve can encourage banks to lend out money and consumers to borrow money by doing THIS?

What is lower interest rates?

400
When the federal government wants to grow the economy and create jobs, it may lower taxes and increase government spending, also know as THIS type of fiscal policy.
What is expansionary fiscal policy?
400
Stockholders make money when the company that issued the stock pays THIS
What is a dividend?
500
What do businesses do in the resource market?

Buy scarce resources

500
Goods/services that are shared by everyone but provided for by the government are called THIS.
What are public goods/services?
500
The purpose of THIS institution is to give consumers confidence in the banking system and make sure they don't lose their money if banks fail.
What is the FDIC?
500

This is considered the natural rate of unemployment (or full employment) in the USA!

4-5% unemployment (or close to that!)

500
THIS investment tool combines stocks and bonds to create a diversified investment portfolio that is less risky than stocks, but grows faster than bonds.
What is a mutual fund?