Statistics for Business Quiz (Updated)

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General Stats
Answer Stats
Score Distribution
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General Stats

This quiz has been taken 22 times
The average score is 13 of 32

Answer Stats

Question	Answer	% Correct
What is a good or service sold to another country?	Export	85%
What rises when supply falls?	Demand	75%
Buying a used car counts toward GDP. (True/False)	False	70%
If 1 USD = 100 Japanese Yen, then how much Yen would be spent if I went out to dinner and spent $35.43?	3543	65%
Every business cycle includes a depression (True/False)	False	65%
China inflates their currency/lowers its value so it can export more. (True/False)	True	65%
What is someone legally classified as if they are not employed, but currently looking for employment?	Unemployed	65%
The United States is currently in a trade surplus with Canada. (True/False)	False	60%
What is an example of a trade barrier?	Tariff/Embargo/Quota	60%
What does WTO stand for?	World Trade Organization	60%
What country does the United States import the most from?	China	55%
What does GDP stand for?	Gross Domestic Product	55%
Name a business listed in the top 5 of the Fortune 500.	Walmart/Amazon/Apple/CVS/UnitedHealth	55%
How many times a year does inflation rate come out?	12	50%
Name one country in NAFTA (Which is not the United States).	Canada/China	50%
What does IMF stand for?	International Monetary Fund	45%
What is the free trade agreement that Canada, Mexico, and the United States is currently in?	NAFTA	45%
What is the currently unemployment rate of the United States (Jan 2022) in percent?	4%	40%
What does NAFTA stand for?	North American Free Trade Agreement	40%
What does NAFTA promote?	Free Trade	35%
What is the total amount of money a country owes?	National Debt	35%
What is the rate of which a currency can buy another one?	Exchange Rate	30%
What's a tax placed on an import called?	Tariff	30%
What is it called when you import more than you export?	Trade Deficit	30%
What does CPI stand for?	Consumer Price Index	20%
What phase of the business cycle is the United States currently in?	Expansion	10%
What is it called when countries specialize in producing what they are good at and trading with other nations for what they are good at producing?	Comparative Advantage	5%
What's it called when imports are taxed in order to protect a domestic industry from foreign competition?	Protectionism	5%
What's the national debt of the United States? (Concatenate with letter variable. Ex: 45t, 45b, 45m, 45k)	35t	0%
What's it called when you spend more than you make?	Budget Deficit	0%
What's it called when supply & demand are where they're supposed to be?	Market Value	0%
If you trade an item with a value of $5 in return for an item with a value of $9, what did you make?	Trade Surplus	0%