Financial
A concept that money has a greater value now than it will in the future due to its earnings potential
Time Value of Money (TVM)
_______ is the possible benefits an individual, investor or business misses out on when they choose to buy or sell an alternative over another.
Opportunity Cost
Famous for writing the book Freakonomics, _____ now works at the University of Chicago
Steven Levitt
The economic effects of the pandemic were severe after the first quarter of 2020. More than 24 million people lost jobs in the United States in just three weeks in April.
COVID-19 Recession
The policy of trickle-down economics is most widely associated with this US President
Ronald Reagan
This company was the first to grow their stock to a $1 trillion market capitalization
Apple (AAPL)
A catch-all term that describes all tradable investments.
Securities
Once an advisor to both Ronald Reagan and British Prime Minister Margaret Thatcher, this economist became famous for his theory of the consumption function.
Milton Friedman
This crisis led to the collapse of the United States housing bubble. Falling housing-related assets contributed to a global financial crisis, even as oil and food prices soared.
Subprime Mortgage Crisis
The Second Five-Year Plan, more commonly known as the Great Leap Forward, was an economic campaign that resulted in the death of tens of millions in this country.
China
A type of pooled investment security that can be purchased and sold on stock exchanges.
Exchange-Traded Fund (ETF)
_______ describes interactive decision-making, where the outcome for each participant or "player" depends on the actions of all.
Game Theory
This infamous economist/journalist was known for his love of drinking and cigars, in one instance going through the streets of London smashing street lamps.
Karl Marx
A banking panic and a collapse in the money supply took place in the United States that was exacerbated by international commitment to the gold standard. Extensive new tariffs and other factors contributed to an extremely deep depression.
Great Depression
This item was at the center of what many consider the first recorded asset bubble, blossoming over 1000% in February 1637.
Tulip
This value is the measure of a stock's volatility in relation to the overall market
Beta
Unemployment resulting from industrial reorganization, typically due to technological change, rather than fluctuations in supply or demand.
Structural Unemployment
This prominent female figure in the economics community once wrote notes for a macroeconomics course so meticulously that they were later made into a textbook.
Janet Yellen
Companies bought billions of dollars worth of new software because they were afraid the old systems weren't designed to transition. Many dot-com businesses were significantly overvalued and failed.
Y2k/Dot Com Crisis
This man is credited as the earliest composer of the Quantity Theory of Money, arguing that price level is proportional to the money supply. As a side hustle, he developed the Heliocentric model.
Nicolaus Copernicus
An index based on surveys sent to businesses in the North American Industry Classification System that collect information on production levels, new orders, inventories, deliveries, backlog, and employment
Purchasing Managers Index (PMI)
These are a type of inferior good that increases in demand as the price increases.
Giffen Goods
This famous economist only had 8 weeks of undergraduate training in the subject and never took an exam during that period.
John Maynard Keynes
This crisis was caused by speculators' losses that spread to trust companies. These firms acted like banks but had lower reserves. Congress created the Federal Reserve System to prevent future collapses.
Panic of 1907
This production function, Y = A(L^a)(K^b) bears the name of two mid 20th century American economists.
Cobb-Douglas