1. Answer: B, India. $1 trillion is more than the annual U.S. defense budget (about $600 billion). And for $1 trillion, you could buy every American an iPhone—and still have $900 billion left over to pay for the service contracts.
2. Answer: C, three years. According to the latest estimate from the Office of Management and Budget, U.S. corporate America will pay about $345 billion in income taxes this year—and that could decline if the economy gets worse and corporate profits sink. Individuals will pay about $1.2 trillion in taxes.
3. Answer: A, 13
4. Answer: C, 1,043
5. Answer: C, 9,000
6. Answer: A, none
7. Answer: B, $150 billion
8. Answer: A, $20 billion
9. Answer: A, industrial companies, which are down about 10 percent for the month. Information companies have fared nearly as bad, down about 9 percent. The financial sector has been the second-best performer, down just 3 percent or so. Despite turmoil in the industry, many financial stocks have been buoyed by bailout hopes.
10. Answer: A, quadrillion. But there's a good argument for C, too.