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

Multiple Choice Questions

1. What annual income would the average payday loan customer have?
(a) $40,000.
(b) $27,000.
(c) $30,000.
(d) $25,000.

2. When did John Kenneth Galbraith write his book, The Affluent Society?
(a) 1953.
(b) 1959.
(c) 1958.
(d) 1951.

3. In Chapter 6, how many American families owned property besides their primary residence?
(a) 4 in 5.
(b) 3 in 10.
(c) 2 in 10.
(d) 1 in 8.

4. What was the top maginal tax rate in 1975?
(a) 50%.
(b) 25%.
(c) 70%.
(d) 45%.

5. In 2020, how much was the gap that separated everyone in America below the poverty line and the poverty line itself?
(a) $177 billion.
(b) $103 billion.
(c) $194 billion.
(d) $127 billion.

6. What did Americans spend on leisure travel in 2020?
(a) $108 billion.
(b) $518 billion.
(c) $472 billion.
(d) $723 billion.

7. When did Kansas senator Roger Marshall declare that the main "impediment" (85) to his state's sagging labor market was unemployment insurance paying people not to work?
(a) August 2020.
(b) July 2023.
(c) May 2022.
(d) June 2021.

8. How many residents in Stockton, California, were given $500 a month with no strings attached?
(a) 218.
(b) 230.
(c) 75.
(d) 125.

9. For four months during the COVID pandemic, how much did unemployed Americans received on top of their regular stipend weekly?
(a) $300.
(b) $500.
(c) $600.
(d) $400.

10. According to a study, how many poor people in America were working-age adults disconnected from the labor market for unknown reasons?
(a) 15 in 300.
(b) 10 in 200.
(c) 3 in 100.
(d) 5 in 150.

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

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) Verdana font.
(d) Georgia font.

13. Since 1985, by what percent did rent prices exceed income gains?
(a) 280%.
(b) 325%.
(c) 75%.
(d) 115%.

14. How many powerboats did Americans buy in 2020?
(a) 108,000.
(b) About 405,000.
(c) 273,000.
(d) More than 310,000.

15. In what state did nearly everyone eligible for food stamps enroll?
(a) Washington.
(b) Oregon.
(c) Montana.
(d) Arizona.

Short Answer Questions

1. When was their a financial crisis in the 19th century that caused landlords to subdivide properties to make room for more renters?

2. In Texas, what could the annual percentage rate reach on a two-week loan?

3. During June and July 2021, how many states stopped some or all of the emergency benefits provided during the COVID pandemic?

4. In 2020, how much did Americans spend on their pets?

5. How much did President Reagan reduce funding for the Department of Housing and Urban Development?

(see the answer keys)

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