The Ultimate Economics Trivia
This is a quiz about Economics. Will you be able to handle it?
Questions and Answers
- 1.
What company produces A1 Steak Sauce?
- A.
Kraft
- B.
Nestle
- C.
Hershey
- D.
RJR Nabisco
Correct Answer
D. RJR NabiscoExplanation
RJR Nabisco is the correct answer because it is the company that produces A1 Steak Sauce. Both RJR Nabisco and A1 Steak Sauce are well-known brands in the food industry. Kraft, Nestle, and Hershey are also notable companies in the food industry, but they are not the producers of A1 Steak Sauce.Rate this question:
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- 2.
S&H Green stamps were originally founded for which company?
- A.
Sears & Roebuck
- B.
Macy's
- C.
Merchants Supply Co.
- D.
Currier & Ives
Correct Answer
C. Merchants Supply Co.Explanation
S&H Green stamps were originally founded for the company Merchants Supply Co.Rate this question:
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- 3.
If someone wanted a nice fragrance, which Unilever PLC (UL) product would he likely buy?
- A.
Calvin Klein's Obsession
- B.
Aqua Velva
- C.
Aqua Di Gio
- D.
Chanel No 5
Correct Answer
A. Calvin Klein's ObsessionExplanation
Calvin Klein's Obsession is a fragrance product, therefore, if someone wanted a nice fragrance, they would likely buy this product.Rate this question:
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- 4.
What company was formed by the merger of the Dutch company Margarine Unie with Lever Brothers?
- A.
Unilever
- B.
Royal Dutch/Shell Group
- C.
Oracle Corp
- D.
Colgate-Palmolive
Correct Answer
A. UnileverExplanation
Unilever was formed by the merger of the Dutch company Margarine Unie with Lever Brothers. This merger created a multinational consumer goods company that is known for its wide range of products including food, beverages, cleaning agents, and personal care products. Unilever has a global presence and is one of the largest companies in the world in terms of revenue.Rate this question:
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- 5.
CEO Lindsay Owen-Jones' company purchased Maybelline in 1996, what company is Lindsay CEO of?
- A.
Shiseido Co
- B.
Johnson And Johnson
- C.
Avon
- D.
L'Oreal
Correct Answer
D. L'OrealExplanation
Lindsay Owen-Jones is the CEO of L'Oreal. This is evident from the fact that L'Oreal purchased Maybelline in 1996, which implies that Lindsay Owen-Jones, as the CEO of L'Oreal, was responsible for the acquisition. Therefore, the correct answer is L'Oreal.Rate this question:
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- 6.
For what company did a researcher synthesize acetylsalicylic acid in 1897, which led to the world's favorite pain killer?
- A.
Bayer Ag
- B.
Johnson And Johnson
- C.
Barr Laboratories
- D.
Eli Lilly & Co.
Correct Answer
A. Bayer AgExplanation
In 1897, a researcher synthesized acetylsalicylic acid, which became the world's favorite painkiller. The company responsible for this breakthrough was Bayer Ag.Rate this question:
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- 7.
Who said of NAFTA "you're going to hear a giant sucking sound of jobs being pulled out of this country"?
- A.
Al Gore
- B.
Robert Rubin
- C.
Ross Perot
- D.
Alan Greenspan
Correct Answer
C. Ross PerotExplanation
Ross Perot said of NAFTA "you're going to hear a giant sucking sound of jobs being pulled out of this country". This statement is often attributed to Perot during his 1992 presidential campaign, where he strongly opposed the North American Free Trade Agreement (NAFTA). Perot argued that NAFTA would lead to a loss of American jobs as companies moved their operations to Mexico due to lower labor costs. This quote became one of Perot's most famous and memorable lines, highlighting his concerns about the potential negative impact of free trade agreements on the American workforce.Rate this question:
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- 8.
Coca-Cola's annual revenue in 1997 was $18.8 billion. What was it in 2001?
- A.
$12 Billion
- B.
$28.8 Billion
- C.
$20 Billion
- D.
$18.8 Billion
Correct Answer
C. $20 BillionExplanation
The correct answer is $20 Billion. The question asks for the annual revenue of Coca-Cola in 2001. Since the given options include different revenue amounts, we need to select the one that matches the revenue for that year. In this case, the option of $20 Billion aligns with the question and is therefore the correct answer.Rate this question:
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- 9.
Who did Electronic Data Systems (EDS) get 14% of its business from in 2001?
- A.
U.S. Government
- B.
BP
- C.
Sears
- D.
General Motors
Correct Answer
D. General MotorsExplanation
In 2001, Electronic Data Systems (EDS) obtained 14% of its business from General Motors. This suggests that General Motors was a significant client for EDS during that year, contributing a substantial portion of their overall business.Rate this question:
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- 10.
What was one way Paul Julius Reuter sent stock quotes between Aachen and Brussels in the 1800's?
- A.
Carrier Pigeons
- B.
Horseback
- C.
Bicycle
- D.
Runners
Correct Answer
A. Carrier PigeonsExplanation
In the 1800s, Paul Julius Reuter sent stock quotes between Aachen and Brussels using carrier pigeons. Carrier pigeons were commonly used during this time to deliver messages over long distances. These pigeons were trained to fly from one location to another, carrying small capsules with messages attached to their legs. This method allowed for relatively quick and efficient communication between the two cities without the need for more traditional means such as horseback, bicycles, or runners.Rate this question:
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- 11.
Who publishes Barron's magazine?
- A.
Hearst Publishing
- B.
London Times
- C.
Dow Jones
- D.
New York Times
Correct Answer
C. Dow JonesExplanation
Dow Jones is the correct answer because they are the publisher of Barron's magazine. Barron's is a financial magazine that provides in-depth analysis and insights on various topics such as stocks, investments, and market trends. Dow Jones, a subsidiary of News Corp, is a leading provider of financial news and information, and they publish Barron's along with other well-known publications like The Wall Street Journal.Rate this question:
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- 12.
What year did the North America Free Trade Agreement take effect?
- A.
1989
- B.
1996
- C.
1990
- D.
1994
Correct Answer
D. 1994Explanation
The North America Free Trade Agreement (NAFTA) took effect in 1994. NAFTA is a trade agreement between the United States, Canada, and Mexico, aimed at eliminating barriers to trade and promoting economic cooperation between the three countries. It was signed in 1992 and implemented on January 1, 1994.Rate this question:
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- 13.
By the end of 2001, what company spent the most money on advertising?
- A.
Pepsico
- B.
Coca Cola
- C.
General Motors
- D.
Time Warner
Correct Answer
C. General MotorsExplanation
General Motors spent the most money on advertising by the end of 2001. This indicates that General Motors allocated a significant portion of its budget towards advertising campaigns during that year.Rate this question:
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- 14.
In what city is Citigroup headquartered?
- A.
New York
- B.
Chicago
- C.
Philadelphia
- D.
Boston
Correct Answer
A. New YorkExplanation
Citigroup is headquartered in New York. This is because New York City is considered the financial capital of the United States and is home to many major financial institutions. Citigroup, being one of the largest banking and financial services corporations in the world, has chosen to establish its headquarters in New York to be in close proximity to other key players in the industry and to take advantage of the city's robust financial infrastructure.Rate this question:
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- 15.
Who was the U.S. President when the GATT was formally signed?
- A.
George Bush Sr.
- B.
Bill Clinton
- C.
Ronald Reagan
- D.
George W Bush
Correct Answer
B. Bill ClintonExplanation
Bill Clinton was the U.S. President when the General Agreement on Tariffs and Trade (GATT) was formally signed. GATT was signed on April 15, 1994, during the Uruguay Round of negotiations. Clinton played a significant role in the negotiations and the ultimate signing of the agreement. Under his administration, the GATT was transformed into the World Trade Organization (WTO), which further expanded international trade and established a more comprehensive framework for global trade rules.Rate this question:
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