Naked Econ - Vocabulary Review

Question 1

Watching a baseball game without paying

Accepted Answer

Free Rider

Question 2

A family of four making less than $20,000

Accepted Answer

Poverty

Question 3

They arrange loans to third world countries

Accepted Answer

IMF

Question 4

Standard of Living

Accepted Answer

GDP Per Capita

Question 5

Spending more money than you have

Accepted Answer

Deficit

Question 6

Find the Vocab - All of your education, skills and health

Accepted Answer

Human Capital

Question 7

1. Buy/Sell Bonds, 2.Increase/Decrease Reserve Ratio and 3.Change the Discount Rate

Accepted Answer

Monetary Policy

Question 8

Find the Vocab - Timber Creek Wolves

Accepted Answer

Branding

Question 9

Find the Vocab - Too few resources to meet our wants

Accepted Answer

Scarce

Question 10

Six month decrease in GDP and an increase in unemployment

Accepted Answer

Recession

Question 11

Easy Money Policy can cause ???

Accepted Answer

Inflation

Question 12

Find the Vocab - The little league baseball fields

Accepted Answer

Public Good

Question 13

One dollar is equal to 1.2 Euros

Accepted Answer

Foreign Exchange

Question 14

GDP without inflation

Accepted Answer

Real GDP

Question 15

They are responsible for Monetary Policy

Accepted Answer

FOMC

Question 16

Increase in the general price level of the economy

Accepted Answer

Inflation

Question 17

Find the Vocab - Picking one of two positives

Accepted Answer

Opportunity Cost

Question 18

Find the Vocab - Disney sits on a former cattle ranch

Accepted Answer

Creative Destruction

Question 19

Find the Vocab Word - You found value in taking an AP class.

Accepted Answer

Utility

Question 20

Import/Exports

Accepted Answer

Current Account

Question 21

Find the Vocab - Paying $12 to go to a movie

Accepted Answer

Barrier to entry

Question 22

The rich are getting richer and the poor are getting poorer

Accepted Answer

Income Inequlity

Questions 22