All About Economics

1. Paul Volcker was Chairman of the Federal Reserve during what span?

1978-1979

1970-1978

1979-1987

1951-1970

2. What is the term for a number of shares that is less than a standard board lot?

Hanging Lot

Odd Lot

Low Lot

Strange Lot

3. Discontinued in 2004, series HH bonds paid interest every 6 months for how long?

25 Years

20 Years

30 Years

10 Years

4. What design did the United States' 3-cent silver piece carry on its obverse?

Sundial

Chain

Shield On Six-Sided Star

Wreath

5. Where would you buy crude oil futures?

NASDAQ

New York Futures Exchange

New York Mercantile Exchange

New York Stock Market

6. An excise tax on what commodity led to a violent insurrection in Western Pennsylvania during the presidency of George Washington?

Cotton

Corn

Tobacco

Whiskey

7. If you have caused an accident, which type of automobile insurance would cover damage to your own car?

Collision

Comprehensive

Term

Liability

8. Popular in the 17th and 18th centuries, what economic doctrine espouses high tariffs and strict government control of foreign trade?

Mercantilism

Laissez-Faire

Georgism

Syndicalism

9. What IRS form is issued to a person when they cash in a bond or savings note?

1099-INT

990

I-9

7004

10. What are the tax consequences if a typical 35-year-old leaves a company and then takes his 401(k) account balance in cash?

Normal Income Tax Only

No Taxes Or Penalties Would Apply

Normal Income Tax And A 10% Penalty

Normal Income Tax And A 20% Penalty

11. A bond that gives the holder the right to force the issuer to repay it before the maturity date is called what?

Feasible Bond

Returnable Bond

Putable Bond

Callable Bond

12. Which of the following illustrates the Fisher Effect?

3% Inflation = 3% Real Interest Rate

3% Inflation = 3% Nominal Interest Rate

3% Inflation = 3% Unemployment

3% Nominal Interest Rate = 3% Unemployment

13. Russia has been in an economic union with what European nation since 2000?

Moldova

Poland

Ukraine

Belarus

14. As of December, 2011, one U.S. dollar can be exchanged for which of the following?

6.3 Philippine Pesos

6.3 Japanese Yen

6.3 South Korean Won

6.3 Chinese Yuan

15. What British cabinet position is responsible for all financial and economic matters?

Director Of The Bank Of England

First Baron Of Her Majesty's Treasury

Paymaster General

Chancellor Of The Exchequer