Quiz 1 – US Economy
Quiz 2 – US Economy
1. Ronald Reagan and Margaret Thatcher believed in the same economic theory.
Which?
a. Keynesianism b. Laissez faire
c. Monetarism
2. What do you know about President Clinton’s economic legacy?
a. He achieved the first budget deficit in 30 years.
b. He almost reached his goal of a balanced budget.
c. He achieved the first budget surplus in 30 years.
3. What happened to “the new economy” in 2001?
a. The new economy experienced a soft landing.
b. The prices of IT shares went through the floor.
c. The prices of IT shares went through the roof.
4.Which of the following dates was the worst for the US economy?
a. 11 September 2001
b. 19 October 1987
c. 29 October 1929
1. Which of the following terms has to do with taxation and public spending?
a. The national deficit
b. The trade deficit
c. The budget deficit
6. Why has the U.S.A. until now been dependent on oil-producing trading
partners?
a. U.S. oil production is modest compared to that of the OPEC countries.
b. U.S. oil production is huge, but still does not cover the nation’s needs.
c. U.S. oil production is highly taxed and output is limited.
7. Where are the major industrial corporations in the U.S.A. listed?
a. On the AMEX
b. On the NASDAQ
c. On the NYSE
8. Which of the following characterizations is correct?
a. The development of the US economy in the 20th century is basically a
long and sustained boom.
b. The development of the US economy in the 20th century demonstrates
both its vulnerability and its ability to bounce back.
c. The development of the US economy in the 20th century shows that it is
more prone to boom and bust than most European economies.
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