Basic Economics Quiz: Conservatives are always complaining that liberals...

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BullintheChinaShop

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...know nothing of economics, so here's? your chance to prove what you know.

Here's five questions on basic economics. I just put these together off the top of my head. Anyone who claims to know about Economics should be able to ask all five questions effortlessly.

Here you go folks, let's see what you've got.

1. With Treasury bonds you often hear that "Yields move inversely to the price", what kind of pricing structure causes such an effect on prices?

2. If the US passed a balanced budget Amendment, what effect would it have on commodities markets?

3. What percentage of oil is imported in the US?

4. What percentage of oil imports to the US come from Canada and Mexico?

5. If the Chinese follow through with recently announced plans to make the Yuan available outside of China, and to make it possible to purchase Yuan reserves on English exchanges, what would be the long term effect on prices at retailers like Wal-Mart or Target?
 
1) Fixed coupon
2) Fall
3) Facts that can be found on the internet.
4) Facts that can be found on the internet.
5) If the Yuan appreciates, Wal-Mart and Target prices will be higher if the source of their goods remains China.
 
This is not an economics quiz. Judging by some of these questions it would see conservatives have been right about your knowledge of economics.
 
I'll answer #2. All markets would drop if the US had a balanced budget amendment. But that just truly shows how ugly socialism messes up economies as it would prove that all the large gains that we had over the last 50 years were fake and due to money that wasn't there (IE charging it without having actual cash to pay for it). It would be the painful removal of a bandaid that needed to come off decades ago.
 
Sorry, I wish I learned economics in public schools, but my professors were too busy telling me which companies to boycott, and how gov't is our savior from the horrible untamed markets, this is no lie, I literally did not learn any economics in so called higher education or basic economics in high school, sorry
 
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