Question 1

What is the term for the rate at which prices are rising?

Accepted Answer

Inflation

Question 2

What is the term for a country's official medium of exchange?

Accepted Answer

Currency

Question 3

What is the term for excess currency in circulation?

Accepted Answer

Monetary policy

Question 4

What is a characteristic of a bond?

Accepted Answer

It represents debt between two parties

Question 5

What is the minimum balance required for a checking account?

Accepted Answer

There is no minimum balance

Question 6

What is the term for the movement of labor, goods, and services from one country to another?

Accepted Answer

Globalization

Question 7

What is a characteristic of a stock?

Accepted Answer

It represents ownership in a company

Question 8

What is the main goal of a budget?

Accepted Answer

To spend less than earned

Question 9

What is the term for a law that applies to specific people or situations?

Accepted Answer

Specific law

Question 10

What is the term for a court's decision that does not set a legal precedent?

Accepted Answer

Obiter dictum

Social science: Trivia questions with answers