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Fundamentals
Micro
Macro
International
Finance
100
the fundamental problem of all resources being limited.
What is SCARCITY?
100
This is where supply and demand curves intersect to determine prices.
What is EQUILIBRIUM?
100
This economic measurement tells you how much is being produced within the borders of a nation.
What is GDP?
100
This is a limit on the amount of a foreign good that is brought into a country.
What is a IMPORT QUOTA?
100
This is the financial intermediary which you would visit if you wanted to invest in the stock market directly.
What is a BROKERAGE FIRM/HOUSE?
200
Bauxite, iron ore, timber, & water are examples of this factor of production.
What is LAND?
200
If the name brand gets too expensive do not worry; you can always buy a __________________ instead.
What is SUBSTITUTE?
200
If Sean keeps getting to work late so his boss fires him, Sean will experience this type of unemployment.
What is FRICTIONAL?
200
Protectionism seeks to protect these new companies from going out of business.
What are INFANT INDUSTRIES?
200
This is how easy your investment can be turned into cash.
What is LIQUIDITY?
300
The health, education level, skill level, or training your workers.
What is HUMAN CAPITAL?
300
The type of business organization in which an individual has all the control as well as unlimited liability.
What is a SOLE PROPRIETORSHIP?
300
This is theory of inflation that explain why producers will raise their prices if they must pay more for their land, labor, or capital.
What is COST-PUSH?
300
This is the trade agreement between the Pacific rim countries, North America, and Western South American countries.
What is APEC?
300
This is the stock reporting company that shows you 30 companies that represent the overall market.
What is the DOW Jones?
400
The type of economic system in which the government controls the factors of production.
What is a COMMAND economy?
400
When Wells Fargo bought-out Wachovia, it demonstrated this type of merger.
What is HORIZONTAL?
400
One will most likely see high cyclical unemployment, an increase in poverty, and deflation in this part of the business cycle.
What is a CONTRACTION?
400
If a country can produce a good at a lower opportunity cost it is said to have this.
What is the COMPARATIVE ADVANTAGE?
400
This is the amount of money you must pay out-of-pocket when you get into an accident before your insurance company will cover the rest.
What is DEDUCTIBLE?
500
Any point below the production possibilities curve. This means you are not using all of your resources efficiently.
What is UNDERUTILIZATION?
500
Peaches are basically identical which keeps their prices low; thus, they represent this type of market structure.
What is PERFECT COMPETITION?
500
This is the interest that a commercial bank pays to the FED when it borrows money.
What is the DISCOUNT RATE.
500
If the net exports is negative a country is experiencing this balance of trade.
What is a TRADE DEFICIT?
500
This is the type of low-risk bond that you buy from a state/local government.
What is MUNICIPAL?