Economics Unit Test Quiz

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Questions and Answers
  • 1. 

    What country started a stock exchange called "Mothers"?

    • A.

      Japan

    • B.

      Russia

    • C.

      Brazil

    • D.

      England

    Correct Answer
    A. Japan
    Explanation
    The correct answer is Japan. Japan started a stock exchange called "Mothers". This indicates that Japan was the first country to establish this particular stock exchange.

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  • 2. 

    In what city are the headquarters of the South China Morning Group?

    • A.

      Hong Kong

    • B.

      New York

    • C.

      Beijing

    • D.

      Taiwan

    Correct Answer
    A. Hong Kong
    Explanation
    The headquarters of the South China Morning Group are located in Hong Kong. Hong Kong is a major financial and business hub in Asia, making it an ideal location for the headquarters of a media group. Additionally, the South China Morning Group is known for its coverage of news and events in the Greater China region, including Hong Kong, further supporting the fact that its headquarters are in Hong Kong.

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  • 3. 

    Brooks Brothers is owned by what European company?

    • A.

      International Fashion

    • B.

      Retail Brand Alliance

    • C.

      Brooks Brothers Ltd.

    • D.

      European Fashion Ltd.

    Correct Answer
    B. Retail Brand Alliance
    Explanation
    Brooks Brothers is owned by Retail Brand Alliance, which is a European company.

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  • 4. 

    What is the Eurostar?

    • A.

      A European Candy Bar

    • B.

      A High Speed Passenger Train

    • C.

      A Form Of Currency

    • D.

      A Type Of Mini-Van

    Correct Answer
    B. A High Speed Passenger Train
    Explanation
    The Eurostar is a high-speed passenger train that operates between the United Kingdom and mainland Europe. It connects cities such as London, Paris, and Brussels through the Channel Tunnel. The Eurostar is known for its speed and efficiency, offering a convenient mode of transportation for travelers between these destinations. It is not a candy bar, a form of currency, or a type of mini-van.

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  • 5. 

    In which state can you find Wendy's headquarters?

    • A.

      Kansas

    • B.

      Ohio

    • C.

      Texas

    • D.

      Kentucky

    Correct Answer
    B. Ohio
    Explanation
    Wendy's headquarters is located in Ohio.

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  • 6. 

    Who was known as the first person to make one million dollars in one year?

    • A.

      Mark Twain

    • B.

      Henry Ford

    • C.

      Thomas Edison

    • D.

      Al Capone

    Correct Answer
    D. Al Capone
    Explanation
    Al Capone is known as the first person to make one million dollars in one year. He was a notorious American gangster during the Prohibition era and made a significant fortune through illegal activities, primarily bootlegging and organized crime. His wealth and influence in the criminal underworld allowed him to accumulate such a substantial amount of money in a single year.

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  • 7. 

    Which market did the Hunt brothers try to corner in the 1970's?

    • A.

      Platinum

    • B.

      Copper

    • C.

      Gold

    • D.

      Silver

    Correct Answer
    D. Silver
    Explanation
    The Hunt brothers attempted to corner the silver market in the 1970s. They believed that the value of silver would increase significantly, so they started buying large amounts of silver, causing the price to rise. Eventually, their actions attracted the attention of regulators and the price of silver collapsed, resulting in financial losses for the Hunt brothers.

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  • 8. 

    The current headquarters for GM sits on the Detroit River. What was it called before GM bought it and moved in?

    • A.

      City County Building

    • B.

      Detroit County Building

    • C.

      Urban Blight

    • D.

      Renaissance Center

    Correct Answer
    D. Renaissance Center
    Explanation
    Before GM bought it and moved in, the current headquarters for GM on the Detroit River was called the Renaissance Center.

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  • 9. 

    What is the name of the currency in Angola?

    • A.

      Yenta

    • B.

      Kwanza

    • C.

      Dollar

    • D.

      Drakma

    Correct Answer
    B. Kwanza
    Explanation
    The correct answer is Kwanza. Kwanza is the official currency of Angola. It was introduced in 1977 to replace the Angolan escudo. The currency is named after the Kwanza River, the longest river in Angola. The Kwanza is subdivided into 100 units called cêntimos. It is widely used for all financial transactions within the country.

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  • 10. 

    In the 1970's, what company outspent its nearest rival by $200 million on TV advertising?

    • A.

      Sears

    • B.

      Kmart

    • C.

      Procter & Gamble

    • D.

      Sony

    Correct Answer
    C. Procter & Gamble
    Explanation
    In the 1970s, Procter & Gamble outspent its nearest rival by $200 million on TV advertising. This indicates that Procter & Gamble was highly invested in promoting its products and brand through television commercials during that time. By outspending its competitors, Procter & Gamble aimed to gain a competitive edge in the market and capture the attention of consumers through extensive advertising campaigns.

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  • 11. 

    Visteon was "spun off" from what bigger company?

    • A.

      Chrysler

    • B.

      General Motors

    • C.

      Ford

    • D.

      Time Warner

    Correct Answer
    C. Ford
    Explanation
    Visteon was "spun off" from Ford. This means that Visteon was originally a part of Ford but was separated or divested from the company to become an independent entity.

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  • 12. 

    What company paid $70 million to show "Harry Potter and the Sorcerer's Stone" on television?

    • A.

      Warner Brothers

    • B.

      FOX

    • C.

      Universal

    • D.

      Disney

    Correct Answer
    D. Disney
  • 13. 

    What special effects company was founded by George Lucas?

    • A.

      JVC

    • B.

      SFX

    • C.

      SPX

    • D.

      ILM

    Correct Answer
    D. ILM
    Explanation
    ILM stands for Industrial Light & Magic, which is the special effects company founded by George Lucas. It is a renowned company in the film industry known for its groundbreaking visual effects work, particularly in movies like Star Wars and Jurassic Park. ILM has played a significant role in revolutionizing the field of special effects and has won numerous Academy Awards for its exceptional work.

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  • 14. 

    How many Enron employees lost their jobs in the bankruptcy scandal of 2001?

    • A.

      Only 100

    • B.

      4500

    • C.

      3000

    • D.

      1800

    Correct Answer
    B. 4500
    Explanation
    In the bankruptcy scandal of 2001, a large number of Enron employees lost their jobs. The correct answer is 4500, indicating that this many employees were affected by the scandal. This suggests that the bankruptcy had a significant impact on the company's workforce, resulting in a substantial number of job losses.

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  • 15. 

    What company made huge profits by backing "Harry Potter and the Sorcerers Stone" as a movie?

    • A.

      AOL Time Warner

    • B.

      Universal

    • C.

      Dreamworks

    • D.

      Disney

    Correct Answer
    A. AOL Time Warner
    Explanation
    AOL Time Warner made huge profits by backing "Harry Potter and the Sorcerer's Stone" as a movie. This can be attributed to the fact that the movie was highly successful and became a global phenomenon, leading to significant box office earnings and merchandise sales. AOL Time Warner, as the parent company of Warner Bros. Pictures, which produced and distributed the film, would have benefited greatly from its financial success.

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  • Current Version
  • Mar 19, 2023
    Quiz Edited by
    ProProfs Editorial Team
  • Mar 18, 2015
    Quiz Created by
    Thames
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