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Prices and Value - a Quick Christmas Quiz
22nd December 2008
A huge seasonal hat tip to Ian Stewart, Director of Research at Deloitte, for this selection box of questions drawn from the markets and wider economy in 2008. The answers are available here (click on the site news forum)
With many thanks to Ian Stewart from Deloitte for his superb questions
(1) The cost of shipping goods around the world, measured by the Baltic Freight Index, rose dramatically in recent years, hitting a peak in May 2008. Where was the Baltic Freight Index on December 19 2008 relative to this peak?:
a. down 29% b. down 43% c. down 93%
(2) In the UK Aldi, the German retailer, is selling a two piece pin strip business suit for:
a. £10 b. £25 c. £40
(3) How much has the price of the average UK house risen over the last 10 years?
a. up 94% b. up 124% c. up 154%
(4) Which was the best performing company in the FTSE 100 in 2008?
a. Xstrata (commodities) b. AstraZeneca (pharmaceuticals, healthcare) c. Compass Group (catering, support services)
(5) The wheat price rose four fold between February 2007 and February 2008. How much has the price changed since then?
a. up 26% b. down 26% c. down 62%
(6) Prices do not always reflect value. In a blindfold test of 150 people Netto mince pies scored 73%, well above Waitrose mince pies at 66% or Harrords at 66%. How many boxes of Netto mince pies can you buy for one box of Harrods mince pies?
a. 2 b. 3 c. 5
Answers here
Geoff Riley
Geoff Riley FRSA has been teaching Economics for over thirty years. He has over twenty years experience as Head of Economics at leading schools. He writes extensively and is a contributor and presenter on CPD conferences in the UK and overseas.