The Economy

Buyers Be Where?

So much of the economy depends on consumer demand. How much do you know about it? Take our quiz and find out.
CFO StaffNovember 1, 2011

For the past several years, “consumer demand” has ranked as one of the biggest concerns among CFOs responding to our quarterly Duke University/CFO Magazine Global Business Outlook Survey. With the holiday shopping season nearly upon us, test your knowledge of current consumer attitudes and behaviors.

1) In September, daily consumer spending in stores, restaurants, gas stations, and online averaged $65 per working adult, a change from September 2010 of:
A. +10%
B. +4%
C. -2%
D. -8%

2) Daily spending in those same categories among Americans making at least $90,000 a year was higher than the overall average by:
A. 25%
B. 41%
C. 66%
D. 114%

3) Last month’s Thomson Reuters/University of Michigan Consumer Expectations Survey, a respected indicator of consumer spending habits, reached its lowest level since:
A. 2010
B. 2009
C. 2008
D. 1980

4) According to the Bureau of Labor Statistics, in 2010 average annual consumer spending per household dropped 2% compared with 2009. Which of these spending categories was one of only two to show an increase?
A. Health care
B. Food
C. Entertainment
D. Insurance/pensions

5) A September survey of consumers found what percent planning to spend as much or more in the next six months as in the previous six months?
A. 47%
B. 64%
C. 73%
D. 88%

6) A different September survey found what percentage of Americans believing that the economy will be “better or fully recovered” a year from now?
A. 19%
B. 37%
C. 50%
D. 63%

7) A recent survey of CFOs in the retail sector found what percentage have increased holiday-season inventory levels relative to last year?
A. 23%
B. 31%
C. 48%
D. 62%

8) In that same survey, what percentage of CFOs plan to increase their investments in mobile-commerce technologies over the coming year?
A. 48%
B. 69%
C. 82%
D. 100%

Sources: Gallup, Bureau of Labor Statistics, BDO, Thomson Reuters/University of Michigan.

Answers: 1–A; 2–C; 3–D; 4–A; 5–B; 6–B; 7–B; 8–D