General Economics
In 2025, nearly $38 trillion represented this in the United States.
What is the US National Debt?
This is the branch of knowledge concerned with the production, consumption, and transfer of wealth.
What is economics?
This law states as the price of a good increases, the quantity demanded by consumers decreases, and vice versa (inverse relationship).
What is the Law of Demand?
This funds public services and influences behavior (e.g., sin taxes)
What is taxation?
This is represented by OZT is heavier than a standard OZ
What is a troy ounce?
This is the annual gap where government spending exceeds revenue.
What is the federal deficit?
Individual choices are related to this type of economics?
What is microeconomics?
This law says as the price of a good increases, the quantity supplied by producers increases, as it becomes more profitable (direct relationship).
What is the Law of Supply?
This is charged with setting standards for businesses, environment, and labor.
What is regulation?
The price of this is notoriously volatile compared to that of gold because of the smaller market, lower market liquidity and demand fluctuations between industrial and store of value uses.
What is silver?
In 2025, $1.78 trillion represents what in the United States?
What is the federal deficit?
This type of economics relates to the entire economy?
What is macroeconomics?
This occurs if demand exceeds supply (e.g., a hot new gadget), prices go up, encouraging more production and discouraging some buyers, moving toward equilibrium.
What is a shortage?
This is direct investment in goods, services, and welfare.
What is government spending?
This commodity is over $5,000 per troy ounce today.
What is gold?
What is the primary measure of a nation's economic health?
What is the Gross Domestic Product?
This states that prices for goods adjust to reach an equilibrium where the quantity consumers want matches the quantity producers offer.
What is the law of supply and demand?
This occurs if supply exceeds demand (e.g., unsold seasonal items), prices fall to attract more buyers, reducing excess inventory.
What is a surplus?
This policy sets central bank actions on interest rates and money supply (e.g., Federal Reserve)
What is monetary policy?
This was minted for the last time in 2025.
What is the penny?
This person famously said, "I could end the deficit in five minutes. You just pass a law that says that any time there’s a deficit of more than three percent of GDP, all sitting members of Congress are ineligible for re-election."
Who is Warren Buffett?
This is where the market naturally finds a price where the quantity supplied equals the quantity demanded, clearing the market.
What is equilibrium?
This is another phrase for goods and services people produce
What is wealth?
This specialization is when workers focus on specific tasks, dividing production into discrete steps, which dramatically increases productivity, efficiency, and output.
What is specialization of labor?
These are grooves on the edges of coins/tokens (except for the penny and nickel)
What is a reeded coin?