1. AN ESL QUIZ Economics As A Second Language

2. 1. What is the world’s population? a.1 billion b.3 billion c.6 billion d.9 billion

3. ECONOMICS AS A SECOND LANGUAGE 2. WHAT IS THE CURRENT POPULATION OF THE UNITED STATES? A.250M B.300M C.350M D.400M

4. 3. What percentage of the U.S. population lives in poverty? a.. 8% b.12% c.16 % d.Poverty is a myth

5. 4. WHAT IS THE CURRENT UNEMPLOYMENT RATE? A.About 3.5% B.About 5.5 % C.About 7.5% D.EVERYONE WHO WANTS A JOB HAS ONE

6. 5. WHAT IS THE CURRENT INFLATION RATE? A.3% B.5% C.8% D.I DON’T KNOW WHAT INFLATION IS

7. 6. WHAT TYPE OF ECONOMIC SYSTEM DOES THE U.S. HAVE? 7. NAME A FAMOUS ECONOMIST. DEAD OR ALIVE. 8.The majority of businesses in America employ: a. 0-4 employees b. 20-50 employees c. 100- 150 employees d. Over 200 employees

8. 9. WHICH COUNTRY IS THE #1 IMPORTER IN THE WORLD? 10. WHICH COUNTRY IS THE #1 EXPORTER IN THE WORLD? 11. WHERE IN THE WORLD IS WALL ST?

9. 12. WHAT WAS THE FIRST TOY ADVERTISED ON T.V.? A. MR. POTATO HEAD B. SLINKY C. HULA HOOP D. G.I. JOE

10. 13. IN THE FINANCIAL WORLD, WHAT DOES IPO STAND FOR? TRUE OR FALSE 14. THE MORE USEFUL A GOOD, THE HIGHER ITS PRICE. 15. MONEY IS OUR MOST IMPORTANT ECONOMIC RESOURCE.

11. 16. Name the #1 oil producing nation in the world.

12. 17.In 2006, the average weekly income for an adult with less than a high school education was: a. $419 b. $619 c. $819 18.In 2006, on average, how much more did college graduates earn over those with a high school diploma only? a. 30% b. 50% c. 70% 19.What is the current size of our national debt? a. 950 billion b. 3.5 trillion c. 9.5 trillion d. 15.5 trillion

13. 20. Last year, what percent of U.S. consumed oil came from Persian Gulf countries? a.Less than 15 percent b.16 to 30 percent c.31 to 45 percent d.46 to 60 percent

14. ANSWERS 1. ABOUT 6 billion (c) population 2. About 300 million (b) 3.B about 12% 4.A, about 4.5% 5.A about 3%

15. Economic system 6. CAPITALISM  MARKET SYSTEM  FREE ENTERPRISE  Name an economist 7. ADAM SMITH  KARL AND GROUCHO MARX  JOHN NASH  JOHN KEYNES  AL GREENSPAN  Ben Bernanke  Arnold Schwe (you know who I mean)  Mick Jagger  David Ricardo  Ricky Ricardo

16. 8. a. 0-4 employees (59%)

17. Import/export 9. THE U.S., #1 Importer 10. Germany, #1 Exporter. 11. NEW YORK CITY (wall st) 12. MR. POTATO HEAD

18. 13. INITIAL PUBLIC OFFERING  GOOGLE WAS INITIALLY OFFERED AT $80 OR SO  IT IS CURRENTLY …..  HIGHER 14. FALSE

19. 15. FALSE 16. Saudi Arabia

20. 17.A. $419 18.C. 70% bls.gov 19. 9.5 trillion That’s $9,500,000,000,000 National Debt Clock 20. A less than 15%