Before Bank Underground goes off on its Christmas holidays, it’s time for the Annual Bank Underground Christmas Quiz! We hope you enjoy testing your knowledge on our festive themed questions on economics, finance and all things central banking…
1) Keynes spent Christmas of 1910 in Ramsgate in whose festive company?
The winner of Britain’s best Father Christmas
Incorrect
A group of pantomime actors
Correct. See the Guardian’s article “Seven things you may not know about John Maynard Keynes” for more…
England’s most prolific reindeer breeder
Incorrect
The so-called “three wise men” of Treasury economic advisers
Incorrect
2) Waldfogel’s classic paper, “The Deadweight Loss of Christmas” was criticised by Solnick & Hemenway’s subsequent paper. By how much did they find recipients valued gift above cost?
2%
Correct. See their response in the American Economic Review
5%
Incorrect
10%
Incorrect
25%
Incorrect
3) Which of these items sees the biggest percentage surge in UK household expenditure relative to the other 11 months of the year in December?
Books
Correct. See this Knowledge Bank article for the full breakdown
Food
Incorrect
Alcohol
Incorrect
Clothing
Incorrect
4) Which of the following countries spends the least (in PPP-adjusted prices) on Christmas presents?
The Netherlands
Correct. See the Economist for the full figures
Germany
Incorrect
Switzerland
Incorrect
France
Incorrect
5) This wintry scene adorned the banknotes of which country?
Canada
Correct. Taken from the 1954 Canadian $20 note
Sweden
Incorrect
Norway
Incorrect
Japan
Incorrect
6) Not quite Santa Claus, but which national central bank is located on Santa Rosa street?
Peru
Correct. (Central Reserve Bank of/Banco Central de Reserva del) Peru, in Lima
Chile
Incorrect
Bolivia
Incorrect
Ecuador
Incorrect
7) According to TripAdvisor, how much does it cost to stay in an Inn or B&B in Bethlehem on 24th-25th December (2 adults, one 0-1 year old)?
£49
Correct. As at 12 December 2019
£100
Incorrect
£150
Incorrect
£200
Incorrect
8) The PNC Christmas Price Index estimate the price of the 12 sets of gifts from song, the ‘12 Days of Christmas’. How much would the 78 gifts have cost you in 2018?
£40,000
Correct. Or £39,094.93 to be precise.
£50,000
Incorrect
£60,000
Incorrect
£70,000
Incorrect
9) Which Christmas song’s later verses include the line “We got into a drifted bank”?
Jingle Bells
Correct. View the song lyrics
Santa Claus is Coming to Town
Incorrect
White Christmas
Incorrect
Rudolph the Red-Nosed Reindeer
Incorrect
10) In the festive film favourite “It’s a Wonderful Life”, which bank is run by the central character?
Bailey Brothers Building and Loan
Correct
Bedford Falls Thrift Association
Incorrect
Potter Community Credit Union
Incorrect
Clarence Savings and Loan
Incorrect
11) For 25th December, which of these countries has a 25 Rupee note in circulation?
Mauritius
Correct. The Mauritian rupee
India
Incorrect
Nepal
Incorrect
Seychelles
Incorrect
12) Picture round: Three of the photos above were taken at the Bank of England, and one was taken at Gringotts Wizarding Bank. Can you spot the odd one out?
D
Correct. The bottom right is from Gringotts Wizarding Bank
A
Incorrect
B
Incorrect
C
Incorrect
Nice quiz, thx a lot – Merry Christmas and a Happy New Year to all of you, too!