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What Makes Your Money Work? Trivia Quiz

Remember your high school economics courses? This will be sure to bring back some bad memories.

A multiple-choice quiz by Hopsae. Estimated time: 4 mins.

Author
Hopsae

Time
4 mins

Type
Multiple Choice

Quiz #
12,499

Updated
Dec 03 21

# Qns
10

Difficulty
Average

Avg Score
6 / 10

Plays
713

One at a Time - Single Page - Timed Game

Question 1 of 10

1. Who was the chairman of the Federal Reserve during the late 1990s when the economy was humming along? Hint

Alan Greenspan

Bill Gates

Steve Forbes

Robert Rubin

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Question 2 of 10

2. What founding father of the USA pioneered the idea for a national bank? Hint

Hamilton

Jefferson

Washington

Adams

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Question 3 of 10

3. If supply rises and demand stays the same prices will rise.

True

False

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Question 4 of 10

4. Who was Karl Marx's main collabarator on his famous works? Hint

Fredrick Engels

Joseph Stalin

V.I. Lenin

Max Weber

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Question 5 of 10

5. Whose 'curve' did President Reagan use as the basis for his 'Trickle Down' economic policy? Hint

Keynes

Smith

Laffer

Ricardo

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Question 6 of 10

6. Who is considered to be the father of modern economics? Hint

Adam Smith

Irving Fisher

David Ricardo

Milton Friedman

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Question 7 of 10

7. What famous economist provided a challenge to the classical model during the Great Depression? Hint

John Keynes

John Hicks

Ray Harrod

Jean-Baptiste Say

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Question 8 of 10

8. In standard economic equations, what letter represents capital? Hint

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Question 9 of 10

9. In a 'laissez-faire' economy, the government sets prices.

True

False

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Question 10 of 10

10. What is the term used to describe the twin problems of inflation and stagnation?

Answer: (One Word)

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Quiz Answer Key and Fun Facts

1. Who was the chairman of the Federal Reserve during the late 1990s when the economy was humming along?

Answer: Alan Greenspan

The most powerful man in our economy then, he could cause markets to move merely on his words.

2. What founding father of the USA pioneered the idea for a national bank?

Answer: Hamilton

Men were men back then. He angered Vice President Aaron Burr, who then shot him in a duel.

3. If supply rises and demand stays the same prices will rise.

Answer: False

4. Who was Karl Marx's main collabarator on his famous works?

Answer: Fredrick Engels

Was the intellectual beginning of the socialist revolution of the early 20th century.

5. Whose 'curve' did President Reagan use as the basis for his 'Trickle Down' economic policy?

Answer: Laffer

Basically this said that if you lower tax rates that people will spend more money and increase tax revenues.

6. Who is considered to be the father of modern economics?

Answer: Adam Smith

He's the reason you had to sit through all those boring econ classes.

7. What famous economist provided a challenge to the classical model during the Great Depression?

Answer: John Keynes

He created an entirely new theory known as the Keynesian model.

8. In standard economic equations, what letter represents capital?

Answer: K

9. In a 'laissez-faire' economy, the government sets prices.

Answer: False

10. What is the term used to describe the twin problems of inflation and stagnation?

Answer: stagflation

Source: Author Hopsae

This quiz was reviewed by FunTrivia editor Terry before going online.
Any errors found in FunTrivia content are routinely corrected through our feedback system.

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Referenced Topics

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