Economics
What is opportunity cost?
What you give up to get something. Value or benefits given up by engaging in that activity.
What does GDP stand for?
Gross Domestic Product
What holiday falls the day after Thanksgiving?
Black Friday
What day is Halloween? Be careful...
October 31st
Which NBA player scored the most points in any NBA game?
Wilt Chamberlain (100 points)
Which of these is a negative externality?
a. Water pollution from a local manufacturing plant
b. Higher prices caused by supply shortage
c. A store charging higher prices for products than others
d. All of the above
Which curve shows the inverse relationship between unemployment rate and inflation?
Phillips Curve
Which president made Thanksgiving a national holiday?
Abraham Lincoln
Complete this candy slogan, "Hungry? Why Wait? Grab a...".
Snickers
Which singer’s real name is Stefani Joanne Angelina Germanotta? (Hint: "I want your ugly, I want your disease")
Lady Gaga
A _____ is a single firm in a market while a _____ is a single buyer in a market
Monopoly; monopsony
Mathematically, what is the slope of total cost? (Hint: it's __ cost)
Marginal cost
How many days was the first Thanksgiving celebration?
Three days
What candy's motto is "Taste The Rainbow"?
Skittles
Name three of the artists who performed at the most recent Super Bowl.
Dr. Dre, Snoop Dogg, Mary J. Blige, Eminem, and Kendrick Lamar
If expansionary fiscal policy was enacted, what type of monetary policy would be required to counteract the increase in output? (Tell us what the Fed would have to do to the interest rate)
Which of these goods is both RIVAL and EXCLUDABLE?
a. Club Goods
b. Common Resources
c. Public Goods
d. Private Goods
Which Native American tribe celebrated the first Thanksgiving with the pilgrims?
a. Iroquois
b. Wampanoag
c. Algonquin
b. Wampanoag
Who is the number one importer of candy?
a. The United States
b. The UK
c. Germany
a. The United States
In which film did father and son actors Will and Jaden Smith first appear together?
The Pursuit of Happiness
Other things being equal
A profit maximizing firm will stop production in short run, if price is:
a. More than average cost
b. Equal to fixed cost
c. Less than average variable cost
d. Less than marginal cost
How many calories per person on average are consumed at Thanksgiving dinner? Must be within +/- 250
4,500
What candy has the slogan "Isn't Life Juicy"?
Starbursts
What city did Starbucks open its first store in 1971?
Seattle