A new presidential administration and a new political party holding a voting majority in the U.S. Senate heighten the uncertainty for U.S. executives. While it’s unlikely Congress will pass any new taxes during the pandemic, the situation deserves watching. How closely have you been following the early days of the Biden administration?
1. Janet Yellen is the first person to be chair of the Federal Reserve, Treasury Secretary, and which other post?
A. Secretary of the Commerce Department
B. President of the World Bank
C. Chair of the White House Council of Economic Advisers
D. President of the New York Federal Reserve Bank
2. When does the four-year term of Federal Reserve Chair Jerome Powell end?
A. December 2021
B. September 2021
C. February 2022
D. June 2022
3. Which of the following White House jobs does NOT require Senate confirmation?
A. Chief of the Small Business Administration
B. National Security Adviser
C. Surgeon General
D. Director of the National Economic Council
4. Which one of these is NOT one of President Joe Biden’s stated economic goals?
A. Raise the top corporate income tax rate
B. Tax capital gains and dividends at ordinary rates for high earners
C. Tax profits earned from foreign subsidiaries at 39%
D. Impose a 15% minimum tax on book income
5. Which one of these proposals is in Biden’s emergency economic plan?
A. A third iteration of the Paycheck Protection Program, for midsize companies
B. A $200 per month Social Security increase
C. Two weeks paid leave for all heath care workers
D. Temporary income tax relief for all low-income workers
6. Whom did President Biden nominate as U.S. Trade Representative?
A. Katherine Tai
B. Ngozi Okonjo-Iweala
C. Amy Celico
D. Michael Kantor
7. The Biden Cabinet nominations included three former governors and two mayors. Who is not one of those five nominees?
A. Marty Walsh
B. Gina Raimondo
C. Jennifer Granholm
D. Gretchen Whitmer
8. Which of the above nominees co-founded a venture capital firm?
Answers: 1-C; 2-C; 3-B; 4-C; 5-B; 6-A; 7-D; 8-B