Check the clues and answers for your group. Answers stay hidden during live play until the host reveals them.
Round 1
Measurement Metrics
$200
This term refers to the rate of increase in prices over a given period of time.
$400
This statistic counts the number of people who are actively looking for work but cannot find employment.
$600
The total market value of all final goods and services produced within a country's borders in a given year.
$800
This is the difference between real GDP and potential GDP, expressed as a percentage of potential GDP.
$1000
This statistical estimate tracks the weighted average price of a market basket of goods and services to gauge inflation and changes in the cost of living.
Fiscal Policy
$200
This describes a situation where government spending exceeds government revenue.
$400
This is a mechanism that automatically stabilizes the economy without explicit legislative action.
$600
This policy involves increasing government spending or decreasing taxes to stimulate the economy.
$800
This economic theory suggests that increased government borrowing leads to higher interest rates and reduced private investment.
$1000
These are government expenditures that automatically decrease during economic expansions and increase during recessions without requiring new legislation.
Monetary Policy
$200
This is the central bank of the United States responsible for conducting monetary policy.
$400
This refers to the interest rate charged by the Federal Reserve to commercial banks for short-term loans.
$600
This tool requires banks to hold a certain percentage of deposits as liquid assets.
$800
This involves the central bank buying or selling government securities to control the money supply.
$1000
This is the interest rate at which depository institutions lend reserve balances to other institutions overnight.
The Financial Sector
$200
This consists of the total currency in circulation plus checkable deposits.
$400
This is a type of money that has no intrinsic value, such as paper currency.
$600
This is the fraction of deposits that banks hold as reserves rather than lending out.
$800
This is the maximum amount of money a banking system generates with each dollar of excess reserves.
$1000
This type of banking system allows banks to keep only a fraction of deposits on hand, while lending out the remainder to generate profit.
International Trade
$200
This is a tax imposed on imported goods.
$400
This is a limit on the quantity of a specific good that can be imported.
$600
This occurs when a country can produce a good at a lower opportunity cost than its trading partners.
$800
This is the difference between a country's total exports and its total imports.
$1000
This is a record of all economic transactions between the residents of one country and the rest of the world.
Aggregate Demand & Supply
$200
This represents the total quantity of output demanded at various price levels.
$400
This describes the tendency for the economy to return to full employment over time without intervention.
$600
This is a decrease in aggregate supply, often caused by a spike in input costs, leading to both higher prices and lower output.
$800
This represents the level of output an economy can produce when all resources are fully employed.
$1000
This curve shows the relationship between the price level and the total quantity of goods produced in the short run.
Double Jeopardy
Measurement Metrics
$400
This occurs when an economy produces beyond its sustainable long-run capacity.
$800
This price index includes all goods and services produced within an economy rather than just consumer items.
$1200
This measure subtracts depreciation of physical capital from the total value of national production.
$1600
This type of unemployment arises from a mismatch between skills of workers and the needs of employers.
$2000
This represents the percentage of the working-age population that is either employed or actively seeking employment.
Fiscal Policy
$400
This is the ratio of a change in national income to the initial change in autonomous spending.
$800
This is the portion of each additional dollar of income that is consumed.
$1200
This concept posits that government deficits today will be offset by higher private savings in anticipation of future taxes.
$1600
This is a delay between the recognition of a problem and the implementation of a legislative solution.
$2000
This is the relationship between tax rates and total tax revenue, showing that higher rates can sometimes lead to lower revenue.
Monetary Policy
$400
This is the total demand for money as a function of the interest rate.
$800
This is the view that the central bank should maintain a steady, predictable growth rate of the money supply.
$1200
This is the policy of conducting large-scale asset purchases to lower long-term interest rates.
$1600
This happens when nominal interest rates reach near zero, limiting the effectiveness of traditional monetary policy.
$2000
This is the theory that increases in the money supply lead to higher prices without affecting real variables in the long run.
The Financial Sector
$400
This includes M1 plus savings accounts, money market funds, and small-denomination time deposits.
$800
This occurs when depositors rush to withdraw their funds due to concerns about bank solvency.
$1200
This is the interest rate on government bonds that is often used as a benchmark for all other interest rates.
$1600
These are financial instruments that bundle together various loans to be sold to investors.
$2000
This is the difference between the interest rate banks earn on loans and the interest they pay on deposits.
International Trade
$400
This is the price of one currency in terms of another.
$800
This happens when a currency's value increases in a floating exchange rate system.
$1200
This is the account in the balance of payments that records net flows of international investment.
$1600
This primary component of the balance of payments records a country's net trade in goods and services, as well as unilateral transfers.
$2000
This theory states that in the long run, exchange rates should move to equalize the price of a basket of goods across countries.
Aggregate Demand & Supply
$400
This represents the horizontal sum of individual demand curves for all final goods in an economy.
$800
This is the intersection of the AD, SRAS, and LRAS curves, indicating long-run equilibrium.
$1200
This reflects that in the short run, many prices are sluggish to adjust to changes in economic conditions.
$1600
This is a graph that illustrates the inverse relationship between inflation and unemployment in the short run.
$2000
This phenomenon occurs when a decrease in the price level increases the purchasing power of household wealth, leading to an increase in consumption.
Final Jeopardy · Economic Schools of Thought
He was the influential 20th-century economist who argued that aggregate demand is the primary driving force in an economy and advocated for active government intervention during recessions.
