Econ Final

अब Quizwiz के साथ अपने होमवर्क और परीक्षाओं को एस करें!

If you own 50 shares of stock that you purchased for $40 a share, and the price increases to $70 per share your profit

$1500

What is the best way to buy a car

0% financing on new or used

How much more do you spend on purchases when you use credit instead of cash

12 to 18% more

What is a good age for kids to open their first checking account

13 to 15 years old

Which of the following is a financial intermediary?

A bank

The money multiplier formula shows the effect of

A cash deposit into the banking system of the money supply.

Mariah is buying fewer boxes of macaroni and cheese, used cars, fast food dinners, and generic products because her income Rose. This shift in the demand curve caused by Mariah's income has resulted in what?

A decrease demand for inferior goods

The securities and exchange commission is

A government agency that regulates financial markets and investment companies.

What is an oligopoly?

A market structure in which a few large firms dominate the market

What is the difference between a scarcity and a shortage

A scarcity occurs when there are limited quantities to meet unlimited wants and shortage occurs when a good or service is unavailable

What is the gold standard?

A system in which a countries money is backed with gold

Which one of the following relies on habit, custom, or ritual to decide what to produce, how to produce it, and whom to distribute to?

A traditional economy

Which is a type of insurance to avoid

Accidental death insurance

The baby steps can best be described as

All of the above

Which is true about the practice of marketing credit cards to teenagers

All of the above

Why do you plan for retirement instead of relying on Social Security to take care of you

All of the above

Why is cash value life insurance not a good investment

All of the above

Which of the following is a risk to consider when investing

All of the above are risks

How do you change in interest rates affect the money supply

As interest rates rise people generally keep their wealth and assets that pay returns, restricting the money supply.

Which of the following is not a regulatory

Bank of America

Factors that make it difficult for new firms to enter the market are called

Barriers to entry

The savings habit of been in Arthur best illustrate what principle of saving

Both ANC

In order to effectively manage money, you need a

Budget

Emotional, visual and has immediacy

Cash

Oil and gold

Commodities

What is the difference between commodity money and representative money?

Commodity money consists of objects that have value in and of themselves, but representative money makes use of objects because the holder can exchange them for something else of value.

The most aggressive mutual funds tend to be from

Companies that are a little younger and growing

Self interest is the motivating force driving the free market. Which of the following is the regulating force?

Competition

Experian, Trans Union, equifax

Credit bureaus

What is a key feature in computing your Phico score

Debt

Combining separate debt payments into one single payment

Debt consolidation

Which of the following economic activities does not illustrate the limitations of calculating GDP?

Depreciation

According to the graph of marginal product of labor for a company that makes beanbags, which of the following situations is created when the fourth through seventh workers are hired?

Diminishing marginal returns

The value of your house over and above what you

Equity

A collector is talk to:

Evoke strong emotion

Cash advance in title pawn companies charge roughly the same interest rates and fees on loans as a credit card company

False

Henry Ford and JCPenney were pioneers of the use of credit

False

If we used a race analogy to describe building wealth, it would be most like a sprint

False

Most often identity theft is committed by strangers

False

Never roll over your 401(k) when you leave the company.

False

Not every state has FICA tax withholdings

False

Personal finances 20% behavior, 80% had knowledge.

False

Shelf positioning forces the buyer to associate a value with the product.

False

Term life insurance is more expensive because it funds a

False

The average job is five years in length

False

The envelope system include using credit card for emergencies.

False

The fastest growing group of bankruptcy filers is senior citizens.

False

The purpose of insurance is to increase your investment

False

There are two major credit bureaus: Trans Union and Experian

False

Using a credit card is a good way to find a bargain

False

With all the investments, as the rest goes up, the return goes down.

False

You do not need renters insurance if you live in a dorm at college

False

You need a credit card in order to rent cars and check into hotels

False

You should always use a realtor when selling a

False

Your first baby step is to pay off all your debt

False

Which of the following is not one of the three keys to finding a bargain

Fast talking

Borrowing money and paying overtime

Financing

Which of the following is a good indicator of economic stability?

General price levels

The purpose of the free enterprise system is to

Give consumers freedom to make economic choices

Which of the following statements is true, as market economies have a evolved since Adam Smith's time?

Government intervention in the economy has become greater

In which category do you subsidies, excise taxes, and regulation belong

Governments influence on supply

What is the difference between gross pay and net pay

Gross pay is before taxes, net pay is after

In general, a good way to save on insurance premiums is to

Increase your deductible

Which word can be used twice to best complete the sentence? When supply_________, price falls, and quantity Demanded______to reach a new equilibrium.

Increases

What is the primary difference between inside and outside policy lags?

Inside legs are delays in the implementation of policy, and outside lags indicate the time it takes a new policy to become affective.

How does investing contribute to a free enterprise system?

Investing give more money to businesses to expand and grow, creating new jobs and better products

How do you investors usually act during a bear market?

Investor sell stock and expectation of lower profit because the stock market falls for period of time.

In the mid-1980s, Congress passed the gram Rudman Hollings act. What was the effect of this legislation?

It created automatic cuts and some federal expenditures if the deficit exceeded a certain amount

Which of the following correctly to find money as a unit of account?

It provides a means for comparing the values of goods and services

How did the federal reserve system improve the banking industry in the 20th century?

It served as a central bank with the power to lend to other banks in time of need.

Which of the following is not a reason for the government to provide a good or service as a public good?

It would be inefficient to exclude non-payers

How does a society answers the three economic questions about the production and consumption of goods and services?

It's answer is based on the importance editor actors to various economic goals and social values.

Centrally planned economies can work effectively toward explicitly stated goals, but which of the following is one advantage of such a system?

It's performance almost always falls short of its ideals.

which is not a precaution to prevent your identity from being stolen

Keep your Social Security card on you at all times

Most expensive way to finance a new car

Leasing

The availability of your money

Liquidity

Place your emergency fund in this type of account

Money market

One of the six characteristics economists used to judge how well an item serves as currency is the visibility. What does this concept mean?

Money must be easily divided into smaller denominations.

A written cash flow plan is done

Month

Loan payments on the house

Mortgage

Which is a good investment

Mutual fund

Bargaining for a lower price

Negotiating

Fee for an overdrawn account

Nonsufficient fund

which statement is not true about extended warranties

Only 12% of the warranty covers the statistical approach probability of the item breaking

The true cost of something in terms of what you give up

Opportunity cost

What concert is Best explained by the statement, money spent here cannot be spent there?

Opportunity cost

The amount you pay annually, quarterly, or monthly for insurance

Premium

Which of the following government actions is an attempt to control the high cost of rent for lower income families and what has been the result of this action?

Price ceilings; few renters with the greatest need benefit from the program.

A firm sells natural gas to a city for one price and sells the same gas to an outline village at another phrase. What is this practice called?

Price discrimination

Improved technology helps create a higher standard of living for future generations by

Providing additional goods and services

Why wouldn't economist use real GDP rather than the nominal GDP to measure growth?

Real GDP he reflects output more accurately the nominal GDP by using constant prices.

Checking your bank statement against your account register

Reconcile

10 years ago, a house sold for $54,000. Today the same house is valued at $108,000 what has inflation down to consumers purchasing power?

Reduced it

Which is not part of the federal fair debt collection practices act

Requires creditors to correct any inaccuracies on your account

Lists your personal, work in education history

Resume

What is the money and investor receives above and beyond the money initially invested called?

Return

With investments, as the rest goes up, so should the hopeful return

Risk return ratio

Movement of tax deferred retirement money from one plan to another

Rollover

A__________is usually over $300, but can vary depending on the person.

Significant purchase

Which one of these people lost his or her job because of structural unemployment?

Sonia dropped out of school and now feels to meet the minimum requirements for her job.

Which of the following will not likely lead to reduce insurance rates

Speeding ticket

Four factors, both expected and unexpected, perpetuate the business cycle. Which of the following is not one of these factors?

Stagflation

Which tax may or may not be withheld from your paycheck depending on where you live

State

Which of the following is not covered under a Bankruptcy

Student loans

Life insurance for a specified period of time

Term life insurance

Why might someone consider the standard and 500 (S and P 500) a better measurement of stock performance than the Dow Jones industrial average

The Dell reports on 30 stocks in the S and P 500 tracks 500 stocks as a measure of overall stock performance.

According to the guns and butter example if a country decides to spend more on military goods which of the following will happen?

The country will have less money to devote to consumer goods

By the end of the summer Jason had saved enough money for college from his job as a waiter. He even had some money left over. Although he wanted both he decided to buy a DVD player rather than a digital camera. which of the following is the opportunity cost in this scenario?

The digital camera

What role does the federal reserve play in regulating the baking system

The federal reserve coordinates all regulatory activities and examined Banks periodically

Which of the following is not a factor affecting elasticity?

The good's price range

According to the law of supply, the higher the price,

The larger the quantity produced

When shoes at a local shoe store went on sale at 50% off the regular price, the store sold almost every pair of shoes that I had in less than a day. By the time the stock was replenished, the sale was over and very few shoes were purchased. Which of the following does this illustrate?

The law of demand

Studies a graph showing the equilibrium. For a pizzeria. Which of the following can be said about the equilibrium price and the equilibrium quantity?

The quantity supplied in the quantity demanded are equal 200 slices per day

The poverty threshold, or poverty line, varies according to what?

The size of the family

What definition best explains and IRA

The tax treatment on virtually any type of investment

The primary reason for insurance

Transfer risk

Which type of bond carries the least amount of risk?

Treasury bonds, because they are backed by the US government

A good age to open a checking account is between the ages of 13 and

True

Diversification means to spread around

True

Ifyour mortgage payment exceeds 25% of your net income, you have bought more house than you can afford

True

In order to have a Phico score, you must have debt

True

Increasing your deductible usually decreases the premium

True

It usually takes three months for your budget to begin working well

True

Liquidity is the availability of your money

True

Men in women have different views about money

True

Never buy something you do not fully understand.

True

Rate of return matters when it comes to compound interest.

True

Spending cash is more painful than using a debit card

True

The Roth IRA is in after-tax investment that grows tax-free

True

The average beautiful find his anywhere from 90 to 200 companies in it.

True

The number one cause of divorce in this

True

The power of cash is immediate

True

There are two parts to FICA: Medicare and social security

True

There is no interest charged on debit purchases

True

Walk away power means you leave if you don't get the price you want

True

Your salary is the most important motivation for

True

Joe tried to bargain at an electronic store but is unable to get the price down to where he wants it what should his next step be

Walk away

Which is not a characteristic of cash

Walk away power

Which of the following explains the relationship between income affect and consumption?

When the price of goods goes up, people get less for their money, and consumption goes down

The risk return ratio says

When the risk goes up, the return generally will go up

Which is a true statement regarding the use of credit cards and paying the balance off each month

You are spending an average of 12 to 80% more when you use a credit card

What is true about your Strengths and personality

You grow the most in your areas of strength

If you have $3000 invested in a Roth Aire, what is true about your contribution?

You have already paid taxes on the money so it will grow tax-free

You are ready to buy a home under the following conditions

You have at least 10% down and you have an emergency fund

If you lived on a fixed income, how would you be affected by inflation?

You would be financially stressed because your income does not increase when prices go up?

Spend every dollar of paper before the month begins

Zero based budget

And overdue payment is called

delinquency


संबंधित स्टडी सेट्स

Revature Panel Interview Questions

View Set

Psychiatric-Mental Health Practice Exam HESI

View Set

MI Life Insurance Certificate Chapter 1

View Set

Chapter 13 Administration and Risk Management Final

View Set

CSE 643 - Computer Security - SQL Injection

View Set

Saunders Unit II Issues in Nursing Q 13-25

View Set

Educational Psychology Final Study Guide

View Set

Fundamentals of Nursing - Ch 23 Legal Implications in Nursing Practice

View Set