Deck 4: Facts to Know in Economics

Question 1

Which of the following is closest to the population of Jamaica?

A)280,000
B)2)8 million
C)12.8 million
D)22.8 million
E)28 million

Answer 1

2)8 million

Question 2

What is the closest approximation of the population of the United States?

A)30 million
B)100 million
C)300 million
D)450 million
E)600 million

Answer 2

300 million

Question 3

What is the average household size in the developed world?

A)2)0
B)2)3
C)2)5
D)3)0
E)3)3

Answer 3

2)5

Question 4

Which best approximates the age structure of the United States?

A)0-19: 27%, 20-64: 60%, 65 and over: 13%
B)0-19: 12%, 20-64: 70%, 65 and over: 18%
C)0-19: 25%, 20-64: 50%, 65 and over: 25%
D)0-19: 15%, 20-64: 65%, 65 and over: 20%
E)0-19: 17%, 20-64: 60%, 65 and over: 23%

Question 5

What is the average per capita income in the United States (as of 2008)?

A)$35,000
B)$41,000
C)$47,000
D)$52,000
E)$55,000

Question 6

Which is a sensible number to use as weighted average cost of capital (WACC) for a company in the S&P 500?

A)1%
B)5%
C)10%
D)18%
E)22%

Question 7

Which is closest to the population of Japan?

A)40 million
B)75 million
C)90 million
D)100 million
E)125 million

Question 8

From 1946 to 2008, what is the range of inflation adjusted average annual oil prices?

A)$32.48 to $160.03
B)$8.05 to $122.50
C)$12.95 to $140.05
D)$15.77 to $91.35
E)$41.09 to $63.50

Question 9

What can be used as a combined state and federal tax rate for corporations in the United States?

A)20.3%
B)25.3%
C)32.3%
D)35.3%
E)39.3%

Question 10

What percentage of Americans have a computer in their home?

A)44%
B)53%
C)71%
D)80%
E)94%

Question 11

What percentage of Americans have Internet access?

A)45%
B)56%
C)68%
D)79%
E)92%

Question 12

A company makes 1,000,000 parts. If fewer than ___ were defective, it would be six sigma quality.

A)317,400
B)45,400
C)2,700
D)2
E)0

Question 13

Which of the following is closest to the world population?

A)3 billion
B)5 billion
C)7 billion
D)10 billion
E)15 billion

Question 14

Which of the following numbers is the best approximation for the population of Europe?

A)100 million
B)350 million
C)500 million
D)800 million
E)1 billion

Question 15

How many people live in California?

A)36 million
B)100 million
C)20 million
D)18 million
E)50 million