PERSONAL FINANCE
Value of what you own - value of what you owe
What is net worth?
Goods leaving a country
What are exports?
Elon Musk recently bought this company for $44 billion
What is Twitter?
A political theory derived from Karl Marx, advocating for an elimination of classes and leading to a society in which all property is publicly owned
What is communism?
This fast food company's ad campaign has gone viral in recent weeks due to a catchy (and annoying) jingle
What is Burger King?
Tax rate imposed on an additional $1 of income
What is marginal tax rate?
A tax on imported goods
What is a tariff?
This industry has been experiencing layoffs lately with Amazon, Meta, and Google laying off thousands of workers
What is the tech industry?
What you give up as the result of a decision
What is opportunity cost?
The price of this household food has increased over 100% in the past year due to a bird-killing influenza
What are eggs?
The process of obtaining the present value of a payment or streams of payments
What is discounting?
The total value of all goods and services produced in a particular economy
What is gross domestic product (GDP)?
A contract between a buyer and a seller to purchase a certain stock at a certain price up until a defined expiration date
What is a call option?
US standards and practices used by accountants in the preparation of financial statements
GAAP (generally accepted accounting principles)
Sam Bankman-Fried defrauded investors leading to the bankruptcy of this cryptocurrency exchange in November of 2022
What is FTX?
Someone who has agreed to be legally responsible to pay a debt if the borrower does not pay back a loan as agreed
What is a co-signer?
The amount of debt the US is currently in (hint: it's a lot)
What is $31.5 trillion? (Will accept a ballpark answer)
In early 2021, a group of people on reddit decided to buy shares of this company resulting in it's price to jump over 600% in four days, creating the term "meme-stock" which took over the internet
What is GameStop?
The planning, movement, and flow of goods and related information throughout the supply chain
What are logistics?
This new AI chat software is gaining popularity for being able to generate emails, essays, answer questions, cheat on homework... it has even passed an MBA and law exam
What is ChatGPT?
Specific expenses that can be deducted to reduce taxable income
What are itemized deductions?
Economic data released this week showed the US economy grew by this percentage in Q4 of 2022
2.9% (beat expectations)
This bank filed for the largest bankruptcy of all time, occurring in September of 2008 (a movie has been made on this)
What is Lehman Brothers bank?
The corporate tax rate as of January 1, 2018
What is 21%?
This large well-known company launched a $5/month prescription drug service last week
What is Amazon?