Core Knowledge: Economics Assessment
Professional development in the 21st century requires a working knowledge of basic economic terms and statistics. This information provides a foundation for thinking about the current and future conditions of today's challenging economy relevant to professionals across all industries and levels. Respond to the following questions then click on each one for the answer.
Questions:
- What is the difference between mean v. median?
- What is the difference between inflation v. deflation?
- If given a choice to receive $1 million dollars or a penny doubled every day for 30 days, which would you choose?
- What percentage of U.S. households have a total combined income of $50,000 or less?
- What percentage of U.S. households have a total combined income of $100,000 or more?
- What percentage of U.S. individuals earn $50,000 or less?
- What percentage of U.S. individuals earn $100,000 or more?
- Answer
- Answer
- What is the mean personal income in the U.S.?
- What is the median personal income in the U.S.?
- What is the consumer price index (CPI)?
- What is the consumer confidence index?
- What are the key World Bank economic indicators?
- How much do you spend on food each year?
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