Economics Test Quiz
It’s time to answer some cool questions about Economics
- 1.
Designed to promote the informed use of consumer credit, the Truth in Lending Act was passed in what year?
- A.
1998
- B.
1988
- C.
1978
- D.
1968
Correct Answer
D. 1968 -
- 2.
In the United States, full employment is considered reached when less than what percentage of people aged 20 and older are unemployed?
- A.
3%
- B.
4%
- C.
2%
- D.
5%
Correct Answer
A. 3% -
- 3.
Which of the following can shift a long-run aggregate supply curve to the right?
- A.
A Decrease In Capital
- B.
An Increase In Unemployment
- C.
Advances In Technology
- D.
A Natural Disaster
Correct Answer
C. Advances In Technology -
- 4.
What variety of financial institution is also called a "federal thrift?"
- A.
National Bank
- B.
Federal Savings Association
- C.
Federal Savings Bank
- D.
Credit Union
Correct Answer
B. Federal Savings Association -
- 5.
What is the term for a security that's not listed on a stock or bond exchange?
- A.
Decentralized
- B.
Over-The-Counter
- C.
Unorthodox
- D.
Bottom-Level
Correct Answer
B. Over-The-Counter -
- 6.
What diminutive name is given to Fannie Mae-issued mortgage-backed securities with a 15-year maturity time?
- A.
Dwarfs
- B.
Bits
- C.
Midgets
- D.
Mites
Correct Answer
A. Dwarfs -
- 7.
As of 2011, what is the per-year contribution limit for a SEP IRA?
- A.
49000
- B.
24000
- C.
74000
- D.
99000
Correct Answer
A. 49000 -
- 8.
The New York Stock Exchange was founded by what 1792 agreement?
- A.
Buttonwood Agreement
- B.
Maple Agreement
- C.
Cedar Agreement
- D.
Pecan Agreement
Correct Answer
A. Buttonwood Agreement -
- 9.
Which of the following economic curves approximates the production rate of a resource over time?
- A.
J Curve
- B.
Hubbert Curve
- C.
Engel Curve
- D.
Yield Curve
Correct Answer
B. Hubbert Curve -
- 10.
What specific type of monetary policy involves tying the money supply to the spot price of the currency?
- A.
Inflation Targeting
- B.
Monetary Aggregates
- C.
Fixed Exchange Rate
- D.
Price Level Targeting
Correct Answer
C. Fixed Exchange Rate -
- 11.
What nickname is given to the first of the stock market downturns that signaled the start of the Great Depression?
- A.
Black Thursday
- B.
Black Monday
- C.
Black Friday
- D.
Black Tuesday
Correct Answer
A. Black Thursday -
- 12.
What does an average household sell to firms in a factors of production market?
- A.
Labor
- B.
Income
- C.
Rent
- D.
Goods and Services
Correct Answer
A. Labor -
- 13.
What Federal Reserve Board regulation limits the number of preauthorized withdrawals and transfers from a savings account?
- A.
Regulation L
- B.
Regulation F
- C.
Regulation M
- D.
Regulation D
Correct Answer
D. Regulation D -
- 14.
A financial firm trading with its own money rather than its customer's money is known as...
- A.
Algorithmic Trading
- B.
Program Trading
- C.
Flow Trading
- D.
Proprietary Trading
Correct Answer
D. Proprietary Trading -
- 15.
What disastrous economic campaign undertaken by the Chinese Communist Party in 1958 resulted in massive famines?
- A.
The Great Leap Forward
- B.
Hundred Flowers Campaign
- C.
Virgin Lands Campaign
- D.
Five-Year Plan
Correct Answer
A. The Great Leap Forward -
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Current Version
-
Mar 19, 2022Quiz Edited by
ProProfs Editorial Team -
Mar 18, 2015Quiz Created by
Cambronbill3
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