Weekly Review Quiz as of 2010-09-30
Economics:Macro

State and Local Tax Revenue Inches Up
by Conor Dougherty
09/28/2010

1. The Census Bureau on Monday reported that state and local tax revenues rose 1.7% in the second quarter of 2010. However, revenues are still well below pre-recession levels. Which revenue component has seen the largest percentage increase over the past year?

a) Property taxes
* b) Sales taxes
c) Estate taxes
d) Individual Income Taxes
e) Corporate Income Taxes

2. The Census Bureau on Monday reported that state and local tax revenues rose 1.7% in the second quarter of 2010. However, revenues are still well below pre-recession levels. Which were the three largest sources of state & local revenues in the past year?

a) Sales taxes, corporate income taxes, individual income taxes
b) Property taxes, corporate income taxes, individual income taxes
c) Sales taxes, property taxes, individual income taxes
* d) Property taxes, sales taxes, individual income taxes
e) Sales taxes, corporate income taxes, property taxes

Germans Sound More Optimistic About Prospects for a Recovery
by Ainsley Thomson and Andrea Thomas
09/29/2010

3. Consumer confidence in Germany, France and Italy is expected to rise sharply in October. Reasons for this optimism include all of the following except

* a) Government budget deficits are shrinking
b) National prices are stable
c) Banks are lending more to businesses and households
d) Unemployment is falling
e) Not just strong exports but also healthy domestic demand for goods

EU Aims to Curb Spendthrifts
by Charles Forelle and Matthew Dalton
09/29/2010

4. The members of the European Union are creating a list of sanctions for member countries that commit any of the following economic infractions except:

* a) Setting interest rates too low, relative to other EU countries
b) Having too large a government debt (as a % of GDP)
c) Having overly low labor-force productivity, relative to other EU countries
d) All of the above infractions can trigger sanctions
e) a) and c) only

European Economic Gains Fizzle
by Brian Blackstone and Neil Shah
09/24/2010

5. As concerns about Ireland's economic situation mount, the demand for Irish government bonds _____, pushing interest rates on those bonds _____ and leading to ______in borrowing costs for Irish businesses and the Irish government

a) falls, higher, decreases
b) rises, lower, decreases
* c) falls, higher, increases
d) rises, higher, decreases
e) falls, lower, increases