The Financial institution Underground Christmas Quiz – Financial institution Underground

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Earlier than Financial institution Underground goes off on its Christmas holidays, it’s time for the Annual Financial institution Underground Christmas Quiz! We hope you take pleasure in testing your information on our festive themed questions on economics, finance and all issues central banking…

1) The G-funk traditional ‘Regulate’ was a 1994 hit for whom?

Infamous B.I.G.

Incorrect

Warren G (feat Nate Dogg)
Dr Dre (feat Snoop Dogg)

Incorrect

2) Ebenezer Scrooge’s creditworthiness at which Sq. Mile monetary establishment is talked about within the opening strains of Charles Dickens’ A Christmas Carol?

The Financial institution of England

Incorrect

The Royal Change

Right. The Royal Change. Dickens writes: ‘Scrooge’s identify was good upon ‘Change for something he selected to place his hand to’. Utilizing the Victorian nickname ‘Change’ for the Royal Change. See ‘‘A Christmas Carol’… London Areas‘ for extra info.

Lloyds of London

Incorrect

The Jamaica Wine Home

Incorrect

3) Former Financial institution of England Governor Montagu Norman was such a daily traveller from Victoria on his overseas journeys that the Financial institution’s archives doc him giving Christmas items to officers from the Southern Railway. What did he purchase them?

4) What was the reindeer themed identify of the Reichsbank’s president throughout Germany’s Twenties hyperinflation episode?

Ernst-Ludwig Blitzen

Incorrect

Heinrich Dascher

Incorrect

Karl-Heinz Donner

Incorrect

5) Which of those English soccer groups has not been referred to as the ‘Financial institution of England Membership’ in some unspecified time in the future as a result of their seemingly limitless wealth?

6) This time final 12 months analysis instructed that 49% of Brits would spend much less on Christmas presents. The primary purpose was the influence of the pandemic on their funds (35%). What was the second most frequent response?

Don’t plan on visiting outlets this 12 months so anticipate to spend much less.
I don’t need to purchase items/costly items for individuals who could really feel dangerous in the event that they’re not in a position to do the identical.

Incorrect

Unsure if seeing mates/prolonged family members so don’t intend to purchase for them.

Incorrect

Don’t see the purpose in spending heaps with Lockdowns and restrictions on our motion.

Incorrect

7) This 12 months all of the discuss is of ‘provide shortages’ resulting in a scarcity of Christmas presents. However when was the well-known ‘Cabbage Patch Doll’ disaster, the place a scarcity of the dolls which are ‘so ugly they’re cute’ led to fights breaking out in shops and a black market the place dad and mom have been paying 2 or 3 occasions the face worth of the dolls simply so their kids wouldn’t be upset?

8) UK commerce statistics are labeled utilizing the Widespread Nomenclature (CN) classification system. Christmas timber are traded underneath the CN 8-digit code ‘06042020 Christmas Timber’. What share of whole UK exports in 2016 was on this product group?

0.001%

Right. Supply: Financial institution calculations primarily based on knowledge from UK HMRC Abroad Commerce Statistics.

9) In accordance with estimates by monetary companies firm PNC, which of the next items from the traditional vacation tune, ‘The twelve days of Christmas’ has risen in value probably the most in share phrases between 2019 and 2021?

Three French hens

Incorrect

Twelve drummers drumming

Incorrect

10) Sadly there isn’t a Christmas Tree Financial institution, however which different arboreal associated identify beneath is NOT a financial institution authorised within the UK?

Spruce Financial institution

Right. Spruce Financial institution is just not authorised within the UK. And in case you’re questioning what Norinchukin has to do with timber, it’s from the Japanese Nō – Rin – Chūō – Kinko – Agriculture – forestry – central – credit score union. Financial institution of England listing of Banks – August 2021.

The Norinchukin Financial institution

Incorrect

11) ISO nation codes are internationally acknowledged codes that designate each nation. What’s the Alpha-3 ISO Code for the Christmas Islands?

12) Which central financial institution, the oldest on its continent, celebrated its centenary this 12 months?

Reserve Financial institution of Australia

Incorrect

Reserve Financial institution of India

Incorrect

South African Reserve Financial institution

Right. The South African Reserve Financial institution (SARB) opened its doorways for enterprise on the 30 June 1921 and issued its first banknotes to the general public on 19 April 1922, as documented in SARB, ‘Historical past‘.

The Federal Reserve System

Incorrect

13) Which British economist attributed to Vladimir Ilyich Lenin, in a ebook revealed simply earlier than Christmas in 1919, that ‘[t]right here isn’t any subtler, no surer technique of overturning the present foundation of society than to debauch the forex’?

John Maynard Keynes

Right. Revealed in The Financial Penalties of the Peace, 1919. There’s some controversy as as to if Keynes was really quoting Lenin, or if the assertion ought to be attributed to Keynes himself.

14) Which of the next is the primary sentence from the primary chapter of the primary ebook from Adam Smith’s ‘The Wealth of Nations’?

The annual labour of each nation is the fund which initially provides it with all of the necessaries and conveniences of life which it yearly consumes, and which consists all the time both within the instant produce of that labour, or in what’s bought with that produce from different nations.

Incorrect. Enjoyable Reality: It’s the first sentence from ‘Introduction and Plan of the Work’.

The best enchancment within the productive energy of labour, and the higher a part of the ability, dexterity, and judgement with which it’s anyplace directed, or utilized, appear to have been the consequences of the division of labour.

Right. It’s the first sentence from Chapter 1 of Ebook One.

The good commerce of each civilized society is that carried on between the inhabitants of the city and people of the nation.

Incorrect. Enjoyable Reality: It’s the first sentence from Chapter 1 of Ebook Three.

As it’s the energy of exchanging that provides event to the division of labour, so the extent of this division should all the time be restricted by the extent of that energy, or, in different phrases, by the extent of the market.

Incorrect. Enjoyable Reality: It’s the first sentence of Chapter 3 of Ebook One.

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