Test Your Knowledge On Economics

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| By Thames

Thames

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Quizzes Created: 2572 | Total Attempts: 9,184,646

Questions: 15 | Attempts: 138 | Updated: Mar 18, 2022

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This test will help you to prepare for your unit 1 test on monday.

Questions and Answers

1.

How much deposit insurance per investor does the FDIC provide as of 2011?
- A.
  
  250000
- B.
  
  50000
- C.
  
  400000
- D.
  
  1000000
Correct Answer
A. 250000
2.

What is the term for an exchange of goods and services for other goods and services without the use of money?
- A.
  
  Barter
- B.
  
  Basic Trade
- C.
  
  Swappage
- D.
  
  One-To-One Exchange
Correct Answer
A. Barter
3.

What is the term for a tax on specific items purchased abroad?
- A.
  
  Tariff
- B.
  
  Consumption Tax
- C.
  
  Duty
- D.
  
  Levy
Correct Answer
C. Duty
4.

The city of Memphis' commodity exchange centers around what crop?
- A.
  
  Corn
- B.
  
  Wheat
- C.
  
  Cotton
- D.
  
  Milk
Correct Answer
C. Cotton
5.

On the FICO scale, what is the highest individual credit rating possible?
- A.
  
  850
- B.
  
  950
- C.
  
  990
- D.
  
  780
Correct Answer
A. 850
6.

At what age are you no longer allowed to contribute to an IRA?
- A.
  
  72 ╜
- B.
  
  65 ╜
- C.
  
  70 ╜
- D.
  
  68 ╜
Correct Answer
C. 70 ╜
7.

Pennies mostly consist of what metal?
- A.
  
  Iron
- B.
  
  Zinc
- C.
  
  Nickel
- D.
  
  Copper
Correct Answer
B. Zinc
8.

What British Overseas Territory located in the Caribbean is commonly used by businesses as a tax shelter?
- A.
  
  The Isle Of Man
- B.
  
  Barbados
- C.
  
  The Cayman Islands
- D.
  
  The Seychelles
Correct Answer
C. The Cayman Islands
9.

Which of the following is a stock market holiday?
- A.
  
  Veteran's Day
- B.
  
  Columbus Day
- C.
  
  Good Friday
- D.
  
  Christmas Eve
Correct Answer
C. Good Friday
10.

In a 1980 debate, George H.W. Bush used what derisive term to refer to the economic policies of Ronald Reagan?
- A.
  
  "Slash-And-Burn Economics"
- B.
  
  "Voodoo Economics"
- C.
  
  "Live-And-Die Economics"
- D.
  
  "Vampire Economics"
Correct Answer
B. "Voodoo Economics"
11.

What security measure was added to $50 and $100 bills in 1990 to foil counterfeiters?
- A.
  
  Microscoping
- B.
  
  Microchipping
- C.
  
  Microcoding
- D.
  
  Microprinting
Correct Answer
D. Microprinting
12.

In September of 2008, Fannie Mae and Freddie Mac fell under the conservatorship of what Federal organization?
- A.
  
  FHFA
- B.
  
  FDIC
- C.
  
  FCIC
- D.
  
  FFIEC
Correct Answer
A. FHFA
13.

What is the most commonly-used type of bankruptcy filing for individuals?
- A.
  
  Chapter 11
- B.
  
  Chapter 13
- C.
  
  Chapter 7
- D.
  
  Chapter 12
Correct Answer
C. Chapter 7
14.

Considered one of the lowest-risk investments, what bills are sold by the U.S. government to cover short-term debt?
- A.
  
  M-Bills
- B.
  
  G-Bills
- C.
  
  F-Bills
- D.
  
  T-Bills
Correct Answer
D. T-Bills
15.

According to the SEC, a penny stock is a stock whose shares are worth less than how much apiece?
- A.
  
  5
- B.
  
  10
- C.
  
  1
- D.
  
  0.01
Correct Answer
A. 5

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Current Version
Mar 18, 2022

Quiz Edited by
ProProfs Editorial Team
Mar 18, 2015

Quiz Created by
Thames

Test Your Knowledge On Economics

How much deposit insurance per investor does the FDIC provide as of 2011?

What is the term for an exchange of goods and services for other goods and services without the use of money?

What is the term for a tax on specific items purchased abroad?

The city of Memphis' commodity exchange centers around what crop?

On the FICO scale, what is the highest individual credit rating possible?

At what age are you no longer allowed to contribute to an IRA?

Pennies mostly consist of what metal?

What British Overseas Territory located in the Caribbean is commonly used by businesses as a tax shelter?

Which of the following is a stock market holiday?

In a 1980 debate, George H.W. Bush used what derisive term to refer to the economic policies of Ronald Reagan?

What security measure was added to $50 and $100 bills in 1990 to foil counterfeiters?

In September of 2008, Fannie Mae and Freddie Mac fell under the conservatorship of what Federal organization?

What is the most commonly-used type of bankruptcy filing for individuals?

Considered one of the lowest-risk investments, what bills are sold by the U.S. government to cover short-term debt?

According to the SEC, a penny stock is a stock whose shares are worth less than how much apiece?