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This test consists of 15 multiple choice questions and 5 short answer questions.

Multiple Choice Questions

1. Every year between overdraft fees, check cashing fees, and payday loan fees, how much in fees were collected from low-income Americans?
(a) Over $11 billion.
(b) $50 million.
(c) $900 million.
(d) About $9 billion.

2. After the Great Recession that began in 2008, how long did families in the bottom half of the income distribution have to wait before their incomes returned to pre-recession levels?
(a) 8 years.
(b) Nearly 10 years.
(c) 15 years.
(d) About 12 years.

3. What percent of the GDP is the amount needed to end poverty in America?
(a) 18.
(b) 27.
(c) 1.
(d) 5.

4. In Texas, what could the annual percentage rate reach on a two-week loan?
(a) 460.
(b) 398.
(c) 664.
(d) 516.

5. Where did Facebook log its $15 billion in profit?
(a) Caribbean.
(b) Ireland.
(c) Bahamas.
(d) Bermuda.

6. What president once siad, "Taxes should hurt" (97)?
(a) Carter.
(b) Ford.
(c) Clinton.
(d) Reagan.

7. In 2019, how much did the largest banks in America charge customer in overdraft fees?
(a) $11.68 blllion.
(b) $9.63 billion.
(c) $5 million.
(d) $11 million.

8. How much could be raised by stopping the mortgage interest deduction?
(a) $17 billion.
(b) $32 billion.
(c) $25 billion.
(d) $12 billion.

9. During June and July 2021, how many states stopped some or all of the emergency benefits provided during the COVID pandemic?
(a) 29.
(b) 25.
(c) 15.
(d) 18.

10. In 2021, how much did the U.S. spend on tax breaks?
(a) $4.9 billion.
(b) $1.6 billion.
(c) $1.8 trillion.
(d) $2.7 trillion.

11. When did English writer Daniel Defoe publish a pamphlet arguing that the poor would not work for wages if they were given alms?
(a) 1706.
(b) 1704.
(c) 1728.
(d) 1711.

12. Using what font on mailers helped increase the number of individuals who signed up for the Earned Income Credit?
(a) Roboto font.
(b) Frutiger font.
(c) Georgia font.
(d) Verdana font.

13. After John F. Kennedy was assassinated, when did Democrats have majorities in both houses of Congress?
(a) 1972.
(b) 1968.
(c) 1976.
(d) 1964.

14. What might the average borrower of a pay day loan pay in fees to borrow $375?
(a) $520.
(b) $380.
(c) $490.
(d) $215.

15. In the book The Government-Citizen Disconnect, what percent of adult Americans did the author report had relied on a major government program at some time in their lives?
(a) 68.
(b) 45.
(c) 32.
(d) 96.

Short Answer Questions

1. How many fewer Americans were in poverty in 2021 than in 2018?

2. When the Affordable Care Act was implemented, how much did working-class families have to for coverage?

3. When did John Kenneth Galbraith write his book, The Affluent Society?

4. According to studies, what percent of the taxes they owed did the ultra-rich pay?

5. In 2021, how many rental units in Syracuse, New York, sat empty even as rent increased by 8%?

(see the answer keys)

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