The Econ4U Quiz

Which of the following organizations determine your credit rating?

Experian, Equifax and TransUnion
Visa, Mastercard, and American Express
Citibank, Bank of America, and J.P. Morgan Chase
Your bank
Please select an answer.

Which is most likely to improve your credit rating?

Opening new credit accounts
Spreading debt over many credit cards
Not missing payments
Keeping balances on credit cards low
Please select an answer.

What is the single most important factor in determining whether you will get a loan?

Income level
Home ownership
Amount of debt
FICO or credit score
Please select an answer.

What percent of Americans who file tax returns actually pay no federal income taxes?

0%
8%
16%
32%
Please select an answer.

How much would you have to earn a year to be in the top 25% of all earners?

$50,000
$62,000
$118,000
$312,000
Please select an answer.

On average, how much does a restaurant owner get for every $100 in sales?

$3
$5
$10
$45
Please select an answer.

What percentage of a typical company’s payroll is made up of benefits (such as healthcare) rather than wages and salaries?

9%
18%
31%
41%
Please select an answer.

Buying shares of corporate stock can be risky when:

Only buying stock in a single corporation.
The stock may need to be sold within a few months.
All corporate stocks are bought in the same industry.
All of the above.
Please select an answer.

What percentage of all businesses in America have fewer than 50 employees?

46%
66%
76%
96%
Please select an answer.

In general, what is the maximum amount of monthly income that should go towards paying for your home?

12%
28%
45%
50%
Please select an answer.

If faced with an unexpected cash need, which of these options will typically cost the most?

Bounce a check
Get a payday loan
Initiate a wire transfer
Pay a credit card late fee
Please select an answer.

The widespread financial insecurity of Americans is primarily because...

the incomes of Americans are low.
most Americans save a very high proportion of their income.
government programs are unavailable to help people when they are disabled or experience unemployment.
the saving rate of Americans is low and many borrow in order to spend more than they earn.
Please select an answer.

It is costly to purchase a new car every two or three years because...

the maintenance cost of a new car is generally higher than for a used one.
the financing cost is significantly higher for a new car than for a used one.
a new car will depreciate rapidly in value during the first few years of use.
the taxes for the fuel of a new car are generally higher than for a used one.
Please select an answer.