The U.S. Economy by Numbers

Can you answer these multiple choice questions about the American economy?
Quiz by Quizmaster
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Last updated: December 5, 2020
First submittedJanuary 30, 2019
Times taken9,680
Rating4.09
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1. What has been the approximate annual rate of inflation since the year 2000?
-3%
2%
7%
15%
2. About what percentage of American workers work in agriculture?
< 2%
9%
19%
3. About what percentage of American workers work in manufacturing?
8%
27%
54%
81%
4. About what percent of the U.S. GDP is spent on health care?
3%
9%
18%
Despite spending by far the most of any country, the U.S. is not in the top 30 countries in life expectancy
5. About how much money did the federal government spend in 2019?
$44 billion
$930 trillion
$4.4 trillion
$93 trillion
6. What is the highest federal income tax bracket as of 2019?
17%
37%
57%
77%
7. About what percentage of federal income taxes are paid by the 1% highest earners?
< 1%
4%
10%
40%
8. What was the average rent for a one-bedroom apartment in San Francisco in January 2019?
$791 / month
$1,541 / month
$3,261 / month
∞ / month
9. What is the national minimum wage?
There isn't one
$7.25 / hour
$10.20 / hour
$15.00 / hour
10. About what percent of the U.S. government debt is held by China?
0%
4%
49%
90%
Most of the debt is held within the United States, much of it by the Federal Reserve
11. What was the approximate median household income in 2019?
$14,000
$39,000
$66,000
$117,000
12. What was the average price for a gallon of whole milk in 2018?
$3.28
$5.28
$8.28
13. What was the largest part of the U.S. federal budget in 2019?
Social Security
Military
Foreign aid
Interest on the debt
14. True or false. The U.S. exports more than it imports.
True
False
The U.S. has a gigantic trade deficit. Every year, it imports more than $500 billion more than its exports.
15. Which of the following investments has had the highest rate of return since 1950?
Savings account in the bank
Gold
Stocks
Stocks have outperformed nearly every class of investment by a huge amount
+12
Level 80
Jan 30, 2019
$3261/month? What the hell?
+18
Level 72
Jan 30, 2019
Gotta pay extra to have hobo poop and pee cleaned up out front every day.
+8
Level 82
Jan 30, 2019
Funny, that's what those of us who live in SF say.
+11
Level 46
Feb 6, 2019
Absolutely insane... I live in Finland, and with that money you can get a brand new 3 bedroom apartment with an ocean view terrace, sauna and from the heart of Helsinki, which already is by far the most expensive city here to live in. But to get a small one-bedroom apartment for that... it's crazy.
+1
Level 62
Feb 6, 2019
You're one to talk. Finland is stupid expensive.
+13
Level 63
Feb 6, 2019
@Elan, he agrees with you that Finland is expensive. You should read his comment.
+1
Level 69
Jan 7, 2021
they should build more houses
+1
Level 66
Jan 8, 2021
I picked infinity, and imo at this point that should be accepted as a correct answer.
+1
Level 71
Jan 30, 2019
only got the new max tax rate wrong ... haven't done taxes since they changed
+12
Level 81
Feb 6, 2019
This was a tough quiz. Aside from the "infinity dollars per month" most of these answers were at least within the realm of what could be reasonable. But I did better than I thought when I hit submit.
+22
Level 82
Feb 6, 2019
Same for me, except for the "I did better than I thought" part.
+1
Level 82
Aug 21, 2019
Logically the only way it could be infinity on average is if there are 0 one bedroom apartments. Possible but highly unlikely, so I ignored it too.
+1
Level 66
Jan 6, 2021
$8 for a gallon of milk is reasonable??
+1
Level 67
Jan 7, 2021
Right? I can usually get it for around $2.00 a gallon if I watch for sales. (If you're shopping for organic milk, that's a different story!)
+7
Level 57
Feb 6, 2019
Multiple choice is a fun change of pace!
+1
Level 62
Feb 6, 2019
Agreed! We should have more quizzes with this format!
+3
Level 45
Feb 13, 2019
The infinity per month rent made me laugh.
+2
Level 83
Sep 9, 2019
Good quiz. Several of these are items where the general public are woefully misinformed or uninformed about.
+2
Level 62
Jan 6, 2021
Darn, only got 3
+2
Level 39
Jan 6, 2021
Great quiz. Brings truth to a lot of misconceptions
+3
Level 51
Jan 6, 2021
Wow, I only got 8 right and that's still above 70% of quiz takers. Really puts into perspective how much catchy headlines, political talking points, and social media warp our sense of reality.
+1
Level 66
Jan 6, 2021
the agriculture question was very surprising to me
+1
Level 74
Jan 6, 2021
One of the few I was sure about.
+2
Level 68
Jan 7, 2021
I'm Malaysian and have never been to the U.S. before; got 7/15. I don't have a good concept on economics.
+1
Level 60
Jan 7, 2021
I'm from the US and got the same score. I need to study economics more.
+1
Level 79
Jan 7, 2021
The federal government only spent $4.4 trillion in 2019? In 2020 the deficit alone was $3.8 trillion!
+1
Level 54
Jan 8, 2021
Yeah, pandemics and recessions tend to do that
+1
Level 74
Jan 9, 2021
Perhaps a fitting accompanying quiz by me.
+1
Level 50
Jan 11, 2021
What does USA spend so much on for healthcare? COnsidering it is not free?