Answers from yesterday’s Trivia Tuesday! post:
1. How did the word “buck” come to mean a dollar?
Originally, a buck referred to a deerskin or buckskin, which was commonly used as money.
2. Who coined the term “fiscal cliff”?
Federal Reserve Chairman Ben Bernanke
3. What was the value of the global bond market in 2011?
$99 trillion, according to a report from Morgan Stanley. That’s nearly twice as large as the global stock market in 2011, which was valued around $54 trillion.
4. What’s the largest privately held company in the U.S.?
According to Forbes, agricultural giant, Cargill, Inc., is the largest privately held company in the U.S. If it went public, it would rank among the top 20 companies in the Fortune 500 in terms of revenue.
5. When was the first debt ceiling established and what was it set at?
The first debt ceiling was established in 1917 and set at $11.5 billion, according to the Committee for a Responsible Federal Budget.
6. How many years would it take you to spend a trillion dollars if you spent one dollar every second?
If you spent one dollar every second, you would have spent a million dollars in 12 days. At that same rate, it would take you 32 years to spend a billion dollars. It would take you more than 31,000 years to spend a trillion dollars.
7. What was the federal debt in 1835, when Andrew Jackson was President?
By Jan. 1, 1835, under Jackson, the debt was just $33,733.
8. How much has the U.S. national debt increased since 2000?
The U.S. national debt has more than doubled since the year 2000.
- Under President Bush: At the end of calendar year 2000, the debt stood at $5.629 trillion. Eight years later, the federal debt stood at $9.986 trillion.
- Under President Obama: The debt started at $9.986 trillion and escalated to $15.3 trillion, a 53 percent increase over three years.
9. Which two women have appeared on the U.S. $1 coin?
Susan B. Anthony and Sacagawea
10. Who was the first U.S. billionaire?