Check the clues and answers for your group. Answers stay hidden during live play until the host reveals them.
Round 1
Market Fundamentals
$200
The total amount of a specific good that is available to consumers.
$400
The responsiveness of the quantity demanded of a good to changes in its price.
$600
The additional satisfaction a consumer gains from consuming one more unit of a good.
$800
This occurs when the quantity demanded exceeds the quantity supplied at the current price.
$1000
A situation in which a single company or group owns all or nearly all of the market for a given type of product.
Global Finance
$200
The rate at which one currency is exchanged for another.
$400
The central bank of the United States tasked with managing monetary policy.
$600
A sustained increase in the general price level of goods and services in an economy over a period of time.
$800
The total market value of all finished goods and services produced within a country in a specific period.
$1000
The international organization that oversees the global financial system and promotes exchange stability.
Key Figures
$200
American economist who won a Nobel Prize for his work on monetarism.
$400
Author of The Wealth of Nations, he is often considered the father of modern economics.
$600
Austrian-British economist known for his defense of classical liberalism and free-market capitalism.
$800
Development economist who proposed the theory of the big push model for industrialization.
$1000
British economist who advocated for government intervention during economic downturns.
Behavioral Economics
$200
The cognitive bias where people rely too heavily on the first piece of information they receive.
$400
The phenomenon where individuals' choices are influenced by how the options are presented.
$600
A concept describing how people tend to weigh potential losses more heavily than equivalent gains.
$800
The psychological effect where people overvalue an object they own simply because they possess it.
$1000
The tendency to prefer things to stay the same by doing nothing or sticking to a previous decision.
Economic History
$200
The widespread economic liberalization in the 1980s led by Thatcher and Reagan.
$400
The 17th-century Dutch mania surrounding the rising prices of flower bulbs.
$600
The severe worldwide economic downturn that began in 1929.
$800
The 1970s economic phenomenon marked by high inflation and high unemployment.
$1000
A period of rapid economic growth in the late 19th century characterized by industrialization.
Economic Systems
$200
A hypothetical stage in Marxist theory where there is no state or class structure.
$400
An economic system combining private and public enterprise.
$600
An economic system based on private ownership of the means of production and their operation for profit.
$800
A system where the government controls the means of production and allocates resources.
$1000
A system where tradition and customs determine the production and distribution of goods.
Double Jeopardy
Market Fundamentals
$400
The cost of the next best alternative forgone when a choice is made.
$800
A market structure with only a few firms dominating the industry.
$1200
The state where the quantity supplied equals the quantity demanded.
$1600
The point at which the marginal cost of production equals the marginal revenue.
$2000
Costs that do not change with the level of output produced.
Global Finance
$400
The international trade agreement replaced by the USMCA in North America.
$800
The total amount of money that a country's government has borrowed.
$1200
A financial index that tracks the performance of 500 large companies listed on US stock exchanges.
$1600
A currency that is widely used for international transactions and maintained by central banks as reserves.
$2000
A measure of the average change over time in the prices paid by urban consumers for a market basket of goods.
Key Figures
$400
First woman to serve as the Chair of the Federal Reserve.
$800
French economist who wrote the 2013 bestseller Capital in the Twenty-First Century.
$1200
Nobel laureate known for the development of mechanism design theory.
$1600
Economist who pioneered the study of social choice and individual preferences.
$2000
Economist known for his work on comparative advantage and international trade theory.
Behavioral Economics
$400
A nudge is a concept popularized by this author of Nudge: Improving Decisions About Health, Wealth, and Happiness.
$800
The tendency to overestimate one's own abilities or knowledge.
$1200
The preference for immediate rewards over larger rewards received in the future.
$1600
The choice architecture strategy of making a specific option the default.
$2000
A cognitive bias where people judge the probability of an event by how easily they recall similar examples.
Economic History
$400
The 1997 financial crisis that began in Thailand and spread across East Asia.
$800
The period of economic growth and stability in the US following World War II.
$1200
The 19th-century economic policy advocating for little to no government interference.
$1600
The economic theory that dominated the 16th to 18th century, emphasizing the accumulation of gold and silver.
$2000
The massive economic aid program provided by the US to rebuild Western Europe after 1948.
Economic Systems
$400
The process of transferring an enterprise or industry from public to private ownership.
$800
An economic system characterized by public ownership of the means of production and cooperative management.
$1200
A system where economic activity is guided by central planning by a government authority.
$1600
An economy in which production and consumption are primarily based on the laws of supply and demand.
$2000
A form of economic organization where individual agents interact and self-organize without central control.
Final Jeopardy · Macroeconomic Concepts
This curve represents the relationship between tax rates and tax revenue, suggesting that lowering high tax rates can actually increase government revenue.
