Banking
It's the central bank of the United States
What is the Federal Reserve?
Adam Smith thought these were conspiracies against the consumer, but don't tell that to Parker Brothers
What are monopolies?
On a specified day of its financial year, a firm issues this sheet of its assets and liabilities
What is a balance sheet?
The great Depression lasted a decade; the Great one of these just 18 months from December 2007-June 2009
What is Recession?
Karl Marx put this system between capitalism and communism
What is socialism?
In the U.S. the total type of this type of debt has charged ahead to around $585 Billion
What is credit card?
The FDIC or NCUA will insure the money on deposit if stolen for this amount per account, per customer
What is $250,000
It represents one-seventh of the U.S. Economy; President Obama tried to reform it in his first term
What is Healthcare?
Moral hazard refers to people taking risks with their health because they know they have this
What is insurance?
Mercantilism was shot down by this economist in his Wealth of Nations?
Who is Adam Smith?
An APR or annual percentage rate is a rate of this
What is interest?
A savings account is limited to this number of withdrawals a month due to Regulation D?
What is 6?
In 1990 about 2/3 of Americans over 65 relied on this for over half their income
What is social security?
What is inflation?
The opposite of progressive, it's the type of tax that takes a bigger portion as income drops
What is regressive?
You know about the $1 bill and the $2 bill, but in the 1800s we had this rarely printed denomination
What is the $3 bill?
What is the Consumer Credit Protection Act?
In January 1987 the president submitted the 1st U.S. budget surpassing this landmark dollar amount
What is 1 trillion?
Articles of trade like coffee or wheat are termed these on exchange listings
What are commodities?
Economic theory is divided into these 2 parts- one looking at the big picture, the other the small
What is macroeconomics and microeconomics?
The first credit card came out in 1951 produced by this Company?
What is American Express?
This act says-Every person who shall monopolize...trade or commerce....shall be deemed guilty of a felony
What is the Sherman Antitrust Act?
Who was the first U.S. Billionaire?
Who is Henry Ford?
Abbreviated GDP, it differs from GNP; for one thing it doesn't include income from foreign investments
What is Gross Domestic Product
This policy first associated with President Herbert Hoover was associated with Ronald Reagan after he cut taxes in the 1980's (TDE)
What is trickle down economics?