Review 1
The organizational characteristics of a market that define the level of competition and influence the behavior of firms within that market.
Market Structure
The central banking system of the United States, responsible for regulating and supervising the country's monetary and financial system. Often referred to as the "Fed."
Federal Reserve System
The largest form of student aid in the country, federal aid programs come in the form of government grants, loans, and work-study assistance
Federal Student Aid
What state is nicknamed Aloha State?
Hawaii
What is the shortest month of the year?
February
A market structure where many firms offer similar but differentiated products, allowing firms some control over pricing due to perceived product differences.
Monopolistic Competition
The rate at which the general level of prices for goods and services rises, resulting in a decrease in the purchasing power of a currency.
Inflation
An academic degree which usually takes four years to earn and is awarded by a college or university.
Bachelor's Degree
What is the world's highest mountain?
Mt. Everest
What superhero owns Stark Industries?
Iron Man
A market structure with only one seller or producer dominating the market, giving them significant control over prices and supply.
Monopoly
The set of actions and measures undertaken by a central bank, like the Federal Reserve, to manage and control the money supply and interest rates to achieve specific economic objectives, such as price stability and full employment.
Monetary Policy
2 or more years of study at college or university AFTER bachelors degree
Master's Degree
Who is the main antagonist in ‘101 Dalmatians’?
Cruella de Vil
Who wrote the Harry Potter series?
JK Rowling
A market structure with a small number of large firms dominating the market, often leading to interdependence and strategic decision-making.
Oligopoly
The interest rate at which banks and financial institutions can borrow money directly from the central bank, often used to influence lending and borrowing in the broader economy.
Discount Rate
Measure of your family's financial strength, and how much of your college costs it should plan to cover. Will appear on your SAR.
Expected Family Contribution (EFC)
What pigment gives leaves their green color and absorbs light that is used in photosynthesis?
chlorophyll
What letter represents 5 in Roman numerals?
V
A market structure characterized by a large number of small firms producing identical products, with no firm having the power to influence prices.
Perfect Competition
The use of government spending and taxation to influence economic conditions, often used in conjunction with monetary policy.
Fiscal Policy
Loans financed by lenders like banks. The interest rate is usually higher than federal loans and you need to qualify to be eligible.
Private Loans
Who is the main antagonist in ‘Beauty and the Beast’?
Gaston
How many gold medals did Michael Phelps win at the 2008 Olympics?
8