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15
×
What is a perverse incentive?
When a policy ends up having a negative effect, opposite of what was intended
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10
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What is a barter system?
Swap/exchange goods for goods
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10
×
What is a bond? (Keep it simple)
An IOU
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thief
Give points!
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20
25
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shark
Other team loses 25 points!
Okay!
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fairy
Take points!
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25
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thief
Give points!
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25
10
×
What is a stock/share?
A slice of ownership
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10
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What is the gold standard?
Money is redeemable for a specific amount of gold; can't issue more money than gold reserves
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15
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How is Bitcoin different from other currencies?
No regulating country, more anonymous, speculative asset
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heart
Other team wins 20 points!
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rocket
Go to first place!
Okay!
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shark
Other team loses 20 points!
Okay!
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banana
Go to last place!
Oops!
15
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What caused the 1923 German hyperinflation?
To pay massive reparations to the Allies after World War I, Germany printed a lot of their currency
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10
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Alan Greenspan said about the bank bailout, "If they're too big to fail, โฆ"
"... they're too big."
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15
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What are the 3 main purposes of money?
Medium of exchange/store of value/unit of account
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15
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What is a subprime mortgage?
Loans to people with low income and a poor credit history.
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banana
Go to last place!
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shark
Other team loses 20 points!
Okay!
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shark
Other team loses 25 points!
Okay!
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thief
Give points!
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15
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25
5
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Give 3 examples for money thatโs not coins or banknotes
cigarettes, stamps, grain, shells, etc.
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10
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What is a mortgage?
A loan with a house as collateral
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10
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What is โto default/a defaultโ?
When a borrower stops paying back what they owe.
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