Misc. 1
Which landmark in the United States was a gift from France?
Statue of Liberty
Trenton is the capital city of what state?
New Jersey
The study of the economy as a whole, ie unemployment, inflation, etc.
Macroeconomics
This is the biggest problem facing economists, the gap between what people want and the resources available
Scarcity
Government officials prepare detailed plans of how the economy should function
Command economy
What book holds the record for the fastest selling book in history? Harry Potter and the Sorcer's Stone by JK Rowling, The Da Vinci Code by Dan Brown, Spare by Prince Harry, or Harry Potter and the Deathly Hallows by JK Rowling?
HP and the Deathly Hallows
Who runs the orphanage in the musical "Annie"
Miss Hannigan
Method used to encourage people to take certain actions
Incentives
Name the 4 factors of production
land, labor, capital, entrepreneurship
Who wrote "The Wealth of Nations," a book arguing individuals making choices in their interest guides the nation to the best outcomes?
Adam Smith
The "Hollywood" sign originally spelled out what word?
Hollywoodland
How many equal sides are on a scalene triangle?
None
Graph that demonstrates all possible output combinations (think visual for guns and butter)
Production possibities curve
What is the classic example economists often use to explain production possibilities in economics
Guns v. butter
Economic system of the United States
Mixed System
Vienna is the capital city of what country?
Austria, Finland, Hungary, or Slovakia?
Austria
In 1819, the US purchased Florida from which country?
Spain
Ownership over resources or assets
Property Rights
What is opportunity cost?
Highest valued alternative given up as a result of making a choice
Long established customs determined economic decisions
Traditional economy
Before going solo, what group was Beyonce apart of?
Where is the oldest annual modern marathon?
Boston
When individuals deplete a shared resource
Tragedy of the commons
What is marginal benefit
The additional satisfaction of using one more unit of product
Specialization