Saturday, 1 January 2011

Quiz Results

HAPPY NEW YEAR AND THANKS TO ALL WHO ENTERED THE SHECONOMIQUIZ.
THE WINNER WILL BE ANNOUNCED SHORTLY.
MEANWHILE, HERE ARE THE ANSWERS.....

1. How much does the average adult plan to spend on Christmas gifts this year? 
a)   £170
b)   £295
c)   £391

The answer is c) £391

2. Who spends more at Christmas? 
a) Men
b) Women
c) They spend about the same?

The answer is b) women

3. Why did Phil Kunz, from Utah USA, receive 117 Christmas cards from people he didn’t know in 1975?
a) He had amnesia and no longer remembered any of his friends’ names
b) He had been on local radio bemoaning the fact that he was lonely and wasn’t expecting any cards
c) He had sent 578 cards to strangers in an experiment on reciprocity and 117 people had sent him one back 

The answer is c)
Source: Kunz,P R., & Wolcott, M, (1976) Season's greetings: from my status to yours. Social Science
Research, 5, 269-278.

4. When people were asked people how much they would be prepared to pay for gifts they’d been given at Christmas, how much did they say:
a) The same amount that the gifts had cost
b) 20% more than the gifts had cost
c) 20% less than the gifts had cost
  
The answer is c)
Source: Waldfogel, J. 'Scroogenomics', Princeton, 2009

 5. A Christmas card and envelope together cost £1.10. The card costs £1 more than the envelope. How much does the envelope cost?
a) 10p
b) 5p
c) 1p

The answer is b) 5p
Adapted from Kahneman, D. (2003) Maps of bounded rationality: Psychology for behavioral economics. American Economic Review.

6. Last Christmas what percentage of people surveyed said they disliked all the gifts they had received?
a) 5%
b) 15%
c) 30%

The answer is c) 30%
Source: Pine, K.J. Report into gift failure. www.karenpine.com

7. What percentage of women will pretend to like a gift they get?
a) 69%
b) 79%
c) 89%

The answer is c) 89%
Source: Pine, K.J. Report into gift failure. www.karenpine.com

8. What percentage of men will pretend to like a gift they get?
 a) 69%
b) 79%
c) 89%

The answer is b) 79%
Source: Pine, K.J. Report into gift failure. www.karenpine.com

9. What percentage of people thinks it’s OK to re-gift bad presents
a) 35%
b) 50%
c) 65%

The answer is b) 50%
Source: Pine, K.J. Report into gift failure. www.karenpine.com

10. What type of gift are we most likely to get wrong?
a) Gadgets

b) Clothing

c) Jewellery

The answer is b) Clothing
Source: Pine, K.J. Report into gift failure. www.karenpine.com


11. On average how much do parents spend on their child’s Christmas presents?
a) £90
b) £170
c) £255

The answer is b) £170

12. What percentage of women say Christmas is most stressful time of year? 
a) 48%
b) 58%
c) 68%

The answer is c) 68%

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