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Federal Reserve Bank of Boston Economic Quiz

U.S. Economic News in Review 1. The U.S. monthly unemployment rate reached its highest point since August 1994 in April 2002 and again in November 2002. What was this rate? 4.5% 5.2% 6.0% 8.2% 2. What retail giant filed for bankruptcy on January 22nd and was forced to close 284 retail outlets in March? Wal-Mart Sears Gap Kmart 3. The Bush administration agreed on June 28th to a cash bailout for what nationally recognized company in order to keep the company out of bankruptcy? Tyco Int'l Amtrak Disney Arthur Andersen 4. Congress approved the use of military force against Iraq on October 11th. However, any conflict is widely expected to result in a brief, decisive victory for the U.S. A conflict of this kind with Iraq is expected to have what effect(s) on the domestic economy? The U.S. dollar will depreciate. The equities markets will rise. Long-term oil prices will increase dramatically. All of the above Created with QuizScript

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Economic quiz written by: Kristina Johnson - January 6, 2003 Views expressed in the economic quiz are those of the individual author.