Quiz: Quiz Alert: How much do you know about money and economics?
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Quiz Alert: How much do you know about money and economics?
Carolyn Brooks Fleming
About This Quiz
Take this quiz that's all about wealth!
1.0 of 35
The euro, the official currency of the eurozone, was launched on January 1, 1999, but when was actual euro cash introduced?
July 1, 2000.
January 1, 1999.
January 1, 2002.
July 1, 1999.
2.0 of 35
Who first came up with the phrase "trickle down," as it relates to economics?
US Federal Reserve Chairman Alan Greenspan.
US President Ronald Reagan.
Comedian Will Rogers.
Economist Milton Friedman.
3.0 of 35
What popular song features the lyrics, "I wanna be on the cover of "Forbes" magazine / Smiling next to Oprah and the Queen."
"Billionaire," by Travie McCoy, featuring Bruno Mars.
"Money for Nothing," by Dire Straits.
"If I Had $1,000,000," by Barenaked Ladies.
"Make the Money," by Macklemore & Ryan Lewis.
4.0 of 35
What is a mutual fund?
A collection of stocks in related industries, such as oil and automotive.
Funds that are spent by two or more businesses in a mutually beneficial manner.
An investment strategy in which many people pool money together to purchase a variety of stocks, bonds, or other investments.
A specific amount of money set aside to fund a business venture.
5.0 of 35
What is the disposition effect?
The law of supply and demand.
The phenomenon that investors are inclined to hold on to bad investments for too long and to sell winning investments too soon.
The notion that money will buy happiness.
The inclination to spend money as soon as it is earned, so it won't burn a hole in your pocket.
6.0 of 35
What is the official currency of Albania?
The Albanian dollar.
7.0 of 35
What is a promissory note?
A written agreement to repay a loan at a later date than originally promised.
A document that contains a written promise to pay a specific amount on a specified date or on demand.
A court judgment.
A written agreement involving barter, not money.
8.0 of 35
What was the first universal credit card, usable at a number of establishments?
The Diners Club Card.
9.0 of 35
What is money laundering?
Gradually increasing income.
Hiding the source of money illegally obtained, making it seem legal.
Forgetting to remove bills and coins from pockets before washing clothes.
The gradual aging process of money as it is used, especially when it becomes softer, less crinkly.
10.0 of 35
What is Say's law?
The money supply must be held constant.
Supply creates its own demand.
Wealth is the result of the interaction of desire and scarcity.
Demand creates its own supply.
11.0 of 35
What are liquid assets?
Stock specifically in the beverage industry.
Investments in crude oil.
Assets that change in value as seasons or popular tastes change.
Assets that are readily available.
12.0 of 35
What is unusual about the rhythm track on Pink Floyd's 1973 song, "Money"?
There is no rhythm track.
The rhythm track is acapella, made with only human voices.
It features safe-cracking sounds.
It's a tape loop of money-related sounds, including a cash register and jingling coins.
13.0 of 35
In what year did the US Department of the Treasury announce that currency in denominations of $500, $1,000, $5,000, and $10,000 would be discontinued?
14.0 of 35
In Marxist theory, what is the transitional phase between the overthrow of capitalism and the realization of communism?
15.0 of 35
What is speculation?
Buying or selling assets to make a quick profit.
Estimates about future economic growth.
Guesses about future changes in demand for a specific product.
The study of past economic development.
16.0 of 35
What is the term for the color-changing properties of the ink used to print money in the US?
17.0 of 35
Why is it legal in the US to price gasoline to 1/10th of a penny?
Technically such pricing is not legal, but the custom has prevailed.
In the Coinage Act of 1903, pricing at tenths of a cent was legalized for marketing purposes.
The Revenue Act of 1932 legalized gas prices to the tenth of a penny, in conjunction with a new Federal gasoline tax.
In the Coinage Act of 1792, US currency was standardized, including the mill, which was 1/10th of a cent.
18.0 of 35
What was the largest denomination ever printed by the US Bureau of Engraving and Printing?
19.0 of 35
In investment terms, what is diversification?
Investing with people of different races, religions, and cultures.
Investing different amounts of money in different ventures.
Mixing a variety of investments in a portfolio.
Moving money repeatedly from one type of investment to another.
20.0 of 35
In the standard US version of the game Monopoly, what color is the $5 bill?
21.0 of 35
What does "EMV" stand for, regarding credit cards equipped with computer chips?
Electronic Money Valuation.
Economic Master Verification.
Europay, MasterCard, and Visa.
Essential Monetary Venture.
22.0 of 35
What is unusual about Japanese 50-yen and 5-yen coins?
They have holes.
They are square.
They are blue.
23.0 of 35
Who is the only living US president whose image was struck on a US coin?
James K. Polk.
24.0 of 35
When the Bank of Canada issued new polymer $5 and $20 bills in 2013, what controversy ensued?
The maple leaves had the wrong number of points.
People thought the bills smelled like maple syrup.
The maple leaf was omitted.
Some objected because the bills featured images of a dragon parade and winemaking.
25.0 of 35
What is "seed money"?
The agricultural economy.
Money used to start a business.
Money used to keep a farm afloat.
Profit and loss in the organic food industry.
26.0 of 35
Who was the first African-American to appear on US currency in circulation?
Martin Luther King.
George Washington Carver.
Booker T. Washington.
27.0 of 35
For what practical reason would a person bury pennies in their garden?
To repel slugs.
To help a house sell faster, per superstition.
To add nutrients to the soil.
28.0 of 35
What is Bitcoin?
A currency with no central authority and no bank, available to everyone.
Coins used in casino slot machines.
The official currency of Bahrain.
Electronic coins for vending machines.
29.0 of 35
Which culture was the first to stamp the image of a living person on a coin?
30.0 of 35
What percentage of US paper currency printed is $1 bills?
31.0 of 35
What is a zero-based budget?
A budget in the millions or billions, expressed in accounting ledgers and spreadsheets with the ending zeros omitted to save space.
No income and no outgo, as with a new business.
Slang for being broke.
A budget in which every dollar is assigned to a specific use, even before it is received.
32.0 of 35
What color ink is used to print the back side of all US bills?
33.0 of 35
Where could you spend a Rai stone - a limestone disc that is the world's heaviest currency?
The Republic of Malta.
The Island of Yap.
The Isle of Railand.
The Republic of Nauru.
34.0 of 35
What is the name of the actual eagle, adopted by workers at the US Mint, who modeled for the US silver dollar?
35.0 of 35
Where did the expression, "Money is the root of all evil," originate?
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