Economic Literacy Quiz: Do You Understand Your Economic World?

  • Question of

    Which of these countries has the largest economy?

    • USA
    • Germany
    • China
    • Russia
  • Question of

    What is the IMF?

    • Issued Mandatory Finance
    • International Monetary Fund
    • Integral Mandate Fund
    • Integrated Measure of Finance
  • Question of

    Services make up what percentage of the US economy?

    • Approximately 30
    • Approximately 50
    • Approximately 70
    • Approximately 90
  • Question of

    What is shorting?

    • Profiting from rising stock
    • Profiting from holding stock
    • Buying low and selling high
    • Profiting from falling stock
  • Question of

    What is an entrepreneur?

    • Someone who becomes the manager of a business
    • Someone who works for a business
    • Someone who starts a new business
    • Someone who buys from a business
  • Question of

    When did the first currency emerge?

    • About 500 years ago
    • About 1000 years ago
    • About 3000 years ago
    • About 5,000 years ago
  • Question of

    Who is considered the ‘father of economics’?

    • John Maynard Keynes
    • Alfred Marshall
    • Robert Lucas Jr
    • Adam Smith
  • Question of

    What does GDP stand for?

    • Gross Domestic Produce
    • Gross Domestic Product
    • Great Domestic Product
    • Great Domicile Produce
  • Question of

    What is inflation?

    • The growth of stocks
    • When a currency gains value
    • The fall of purchasing power of currency
    • When an economy grows
  • Question of

    Who said “stock prices have reached what looks like a permanently high plateau” 3 days before the market crash of 1929?

    • John Bates Clark
    • Irving Fisher
    • James Tobin
    • Alan Greenspan