Transcript Macroeconomics Review Game

GAME RULES
JEOPARDY
FINAL ROUND
Misc.
Information
Taxes
Legislation
100
100
100
100
100
200
200
200
200
200
300
300
300
300
300
400
400
400
400
400
500
500
500
500
500
Updated: April 2009
Finance
Trade
Category A
- Jeopardy -
100
Deregulation is part of this type of
economic policy
Category A
- Jeopardy -
What is Laissez-Faire
economics?
100
Category A
- Jeopardy -
200
The total value of all goods and
services produced by all firms in
a specified period of time
Category A
- Jeopardy -
What is aggregate supply?
200
Category A
- Jeopardy -
300
A chart showing the quantity of real
GDP purchased at each possible price
level
Category A
- Jeopardy -
300
What is aggregate demand?
Category A
- Jeopardy -
400
This man said the economy is divided
into four sectors- consumer, investment,
government, and foreign, and that the
health of the economy is based on the
spending of all sectors, each impacts the
others
Category A
- Jeopardy -
400
Who is John Maynard Keynes?
Category A
- Jeopardy -
The oldest, most prestigious stock
exchange
500
Category A
- Jeopardy -
500
What is the New York Stock
Exchange?
Category B
- Jeopardy -
100
When a supplier can past on a tax
increase, known as the incident of a
tax, to the consumer demand is said
to be what?
Category B
- Jeopardy What is inelastic?
100
Category B
- Jeopardy -
200
A charge placed on certain items
such as alcohol and cigarettes to
control or change behavior and/or to
raise government revenue
Category B
- Jeopardy -
What is a sin tax?
200
Category B
- Jeopardy -
300
Also known as a flat tax, the same %
of tax is levied on everyone regardless
of income.
Category B
- Jeopardy -
What is a proportional tax?
300
Category B
- Jeopardy -
400
Tax you are required to pay for old
age and medical care
Category B
- Jeopardy What is FICA?
400
DAILY DOUBLE
- Jeopardy
-
How much would you
like to bet?
Category B
- Jeopardy -
500
When exports are taxed it is known as
a customs duty or this
Category B
- Jeopardy What is a tariff?
500
Category C
- Jeopardy -
100
The idea that supply and demand for
the worker’s skills and services
determine the wage or salary.
Category C
- Jeopardy -
100
What is the traditional theory of
wage determination?
Category C
- Jeopardy -
200
The idea that employers are willing to
pay more in wages to those who have
special skills or degrees, or special
abilities
Category C
- Jeopardy -
200
What is the signaling theory?
DAILY DOUBLE
- Jeopardy
-
How much would you
like to bet?
Category C
- Jeopardy -
300
This legislation gave employers the
right to sue unions for breaking
contracts, 80 day strike delay, and
allowed states to pass right to work
laws
Category C
- Jeopardy -
What is the Taft-Hartley Act?
300
Category C
- Jeopardy -
400
Also known as the Wagner Act
established the right of unions
to collective bargain
Category C
- Jeopardy -
400
What is the National Labor Relations
Act?
Category C
- Jeopardy -
500
When a neutral third party collects
facts and makes non-binding
recommendations for resolving the
dispute
Category C
- Jeopardy -
What is fact-finding?
500
Category D
- Jeopardy -
100
It must be portable, durable, divisible,
and have limited durability.
Category D
- Jeopardy -
What is money?
100
Category D
- Jeopardy -
200
Coupon, par value, and maturity are
all parts of this.
Category D
- Jeopardy What is a bond ?
200
Category D
- Jeopardy -
300
The privately owned, publicly controlled
central bank of the United States that controls
the supply of money
Category D
- Jeopardy -
What is the (FED) Federal Reserve
System?
300
Category D
- Jeopardy -
400
The term for money that includes traveler
checks, coins, currency, and demand
deposit and checking accounts
Category D
- Jeopardy What is M1?
400
Category D
- Jeopardy -
500
The currencies used by countries to
conduct international trade
Category D
- Jeopardy -
500
What is foreign exchange?
Category E
- Jeopardy -
100
The tax placed on imports that is high
enough to give the government
income, but low enough not to restrict
trade
Category E
- Jeopardy -
What is a revenue tariff?
100
Category E
- Jeopardy -
200
People that promote the restriction of
imports in favor of domestic industry
Category E
- Jeopardy -
Who are protectionists?
200
Category E
- Jeopardy -
300
This replaced GATT and
administers trade agreements,
helps with trade negotiations settles
disputes between countries, and
aids developing countries
Category E
- Jeopardy -
What is the World Trade
Organization (WTO)?
300
DAILY DOUBLE
- Jeopardy
-
Place your bets!
DAILY DOUBLE
- Jeopardy
-
When country A can product a good more
efficiently than country B, Country A is
deemed to have this.
Category E
- Jeopardy What is comparative
advantage?
400
Category E
- Jeopardy -
500
An agreement between the U.S. and a
nation including this statement that
allows the nation to receive the lowest
tariff rates the U.S. negotiates with any
country
Category E
- Jeopardy -
500
What is most favored nation clause?
- Jeopardy Welcome to
Jeopardy!
The fun and sneaky way to review
material for the upcoming test!
- Jeopardy And now…
a brief introduction to the
RULES of the GAME…
- Jeopardy Each group must:
a) SIT TOGETHER, and
b) Designate a SPEAKER who
will respond to the prompts (You
may NOT change speakers).
- Jeopardy The game consists of
FIVE categories,
each containing
FIVE questions
- Jeopardy Questions are randomly
arranged, NOT by degree of
difficulty
- Jeopardy Each speaker may select only
ONE question per round
- Jeopardy Once the selected question is
posted on the screen,
the SPEAKER of the team has
10 seconds to respond.
- Jeopardy The speaker may consult with
teammates before responding
- Jeopardy During the game, whispering is
OK, but LOUD talking and/or
disruptions DURING THE
GAME may result in point loss
for the entire team.
- Jeopardy The response should be phrased in
the FORM OF A QUESTION.
(Words, phrases, and statements –
even if correct – may be
disqualified)
- Jeopardy A CORRECT ANSWER earns the
team the amount of points
indicated on the jeopardy board.
- Jeopardy If the speaker does not respond
correctly within 10 seconds, the
question passes on to the next
team speaker, who has 5 seconds
to respond.
- Jeopardy The number of points for the
correct answer at this stage are
the same as for
the previous team.
- Jeopardy Questions that are not answered
correctly by the selecting team are
offered to the other teams in turn
until a correct answer is given or
all teams have guessed incorrectly.
- Jeopardy For the Daily Double, the speaker
designates the number of points –
up to the max. points earned by the
team. If correct, the team earns the
designated points; if incorrect, they
lose the designated points.
- Jeopardy Again, whispering is OK, but
remember, LOUD TALKING and/or
DISRUPTIONS DURING THE
GAME may result in point loss for
the entire team.
- Jeopardy The judge’s decisions are FINAL
and whining, pouting, and/or
complaints will NOT BE
ENTERTAINED…
- Jeopardy -
Ready to play?
- Jeopardy Final Jeopardy Topic:
Economics
You may wager up to the amount of
points your team has earned. Write your
wager on a piece of paper and submit it.
Final Jeopardy Question
This deals with the economy as a whole and
includes employment, GDP, inflation,
economic growth, and allocation of wealth
Updated: April 2009
Economics
What is macroeconomics?
Updated: April 2009