Financial Literacy 11-16

If I get a call from my credit card company and am asked to confirm my information, I should do so immediately because they may be trying to prevent someone from stealing my identity. False True

false

In general, the majority of people understand where money comes from. False True

false

In the workforce today, occupations involving computers have grown slowly in the United States. False True

false

Minimum balance requirement refers to the amount of time a person must balance their checkbooks. False True SUBMIT FOR GRADING

false

Minimum wage is the highest amount, established by law, that an employer may pay a worker for one week of work. False True

false

One argument in favor of placing sales tax on digital products is that it will help the growth of the online marketplace. True False

false

Paying with a check will lead to your money being taken from your account almost immediately, while paying with a debit card takes more time. False True

false

Since it was started, the company Apple has only known increasing success. False True SAVE/CHECK ANSWERS

false

The age group that advertisers focus on the most is the elderly because they have accumulated the most wealth over their lifetime. True False

false

The barter system, exchanging goods and services for other goods and services, is a smooth and efficient way to handle economic transactions. False True

false

The economic properties of money are the characteristics of money itself. True False

false

The government is the source of money. False True

false

The two basic types of accounts that banks offer are checking and ATM accounts. True False

false

When thieves send unsolicited email that appears to be from a legitimate source, it is known as hacking. False True

false

When using a system of barter, you give money in exchange for goods and services. True False

false

When you use your debit card as a credit card, you're borrowing money from your bank's general reserve. False True SAVE/CHECK ANSWERS

false

When your identity has been stolen, you should NOT contact the local police. False True

false

You can only use an ATM card to withdraw cash from your checking account from an ATM. False True

false

You should discuss pay and benefits during the first part of an interview. False True

false

The government plays an important role in maintaining the value of _____ money by controlling the money supply through scarcity. representative commodity inflation fiat

fiat

Paying attention to your budget and not engaging in wasteful spending is being __________? frugal a saver extravagant an impulse buyer SUBMIT FOR GRADING

frugal

Match each term to its definition. gross income salary minimum wage net income the lowest amount, established by law, that an employer may pay a worker for one hour of work the income an employee receives after deductions and taxes are taken into account (a.k.a., take-home pay) a fixed wage for work that is usually paid in even amounts on a yearly basis an individual's personal income before any taxes or other deductions are taken into account

gross income an individual's personal income before any taxes or other deductions are taken into account salary a fixed wage for work that is usually paid in even amounts on a yearly basis minimum wage the lowest amount, established by law, that an employer may pay a worker for one hour of work net income the income an employee receives after deductions and taxes are taken into account (a.k.a., take-home pay)

Which of the following is NOT a question you should ask you as try to find a checking account that works for you? How does an ATM work? What are the fees? What are the charges for printing checks? Are there any restrictions on the number of checks I write? What are the interest rates paid on the account?

hoe does an ATM work?

Which of the following is something you might want to research about Golden Years Senior Living to help you know whether you want to apply for the position? (Select all that apply.) how many residents live there the company's hospitality standards the company's motto and priorities concerning how it treats its employees how the company got its name

how many residents live there the company's hospitality standards the company's motto and priorities concerning how it treats its employees

On a paycheck, the hours section indicates how many hours you worked, while the rate section indicates __________. how much YTD net income you accumulated per hour how much you were paid per hour how quickly you worked per hour how much was taken out of your gross income per hour

how much you were paid per hour

When looking over your paycheck, the hours amount indicates the hours you worked and the rate indicates __________. how much you were paid per hour the approval level of your employer the quality of your work how quickly you worked

how much you were paid per hour

Which of the following is something you might want to research about a company in order to know whether you are interested in a position there? (Select all that apply.) how the company treats its employees what the company's motto, beliefs, and priorities are how the company expects its employees to conduct themselves when the company was started

how the company treats its employees what the company's motto, beliefs, and priorities are how the company expects its employees to conduct themselves

The urge to buy something you have just seen is an example of __________. impulse buying rewarding saving splurging

impulse buying

Payroll deductions could include which of the following things? (Select all that apply.) a savings plan income taxes Social Security direct deposit medical insurance

income taxes Social Security medical insurance a savings plan

Which of the following best describes a wise financial decision? investing in stock splurging because you want to reward yourself buying a smartphone when you can't afford it ignoring your budget to get the latest piece of technology SAVE/CHECK ANSWERS

investing in stock

One of the functions of money is to act as a store of value, which means __________. it keeps its value over time it is accepted universally at all stores it keeps its value better when being saved rather than being spent it is valued more than store products SAVE/CHECK ANSWERS

it keeps its value over time

The opportunity to talk to many employers at once in a short period of time best describes a way to get information about jobs from which of the following sources? job fairs newspaper ads employment agencies the Internet

job fairs

Public employment agencies offer __________. (Select all that apply.) job networks of friends and family job training job counseling job listings

job training job listings partial XXXXXXXXX

The nine-digit number on the bottom of the check is the __________. routing number account number check number dollar amount

routing number

Which of the following is NOT a type of tax that could be deducted from your paycheck? city income tax federal income tax state taxes sales tax

sales tax

Which of the following is a concept that money management is based on? (Select all that apply.) saving keeping track of finances investing budgeting

saving keeping track of finances investing budgeting

Which of the following is important when practicing good money management? (Select all that apply.) saving money investing money creating a budget splurging impulse buying

saving money investing money creating a budget

Which of the following are the two basic types of accounts that banks offer? (Select all that apply.) savings checking loan ATM

savings checking

One precaution you can take to stay safe on the Internet is to avoid dangerous websites, such as ones that are _____-oriented. (Select all that apply.) sexually violence movie education

sexually violence

When identity thieves listen to you give out your account number over the phone, this is known as __________. shoulder surfing hacking dumpster diving spamming or phishing

shoulder surfing

Which of the following is NOT a sound money management practice? investing keeping track of expenses splurging budgeting

splurging

Which property of money means that the purchasing power should be fairly steady? stability of value durability scarcity acceptability SAVE/CHECK ANSWERS

stability of value

Money's function of giving a method of expressing and measuring the costs of goods and services is labeled __________. standard of value medium of exchange store of value standard of inflation

standard of value

Which of the following is a type of tax that could be deducted from your paycheck? (Select all that apply.) state taxes federal income tax city income tax property tax

state taxes federal income tax city income tax

Which of the following is NOT a function of money? sustaining of value standard of value medium of exchange store of value

sustaining of value

To sign the back of a check you are depositing or cashing is called endorsing it. True False

true

When applying for a job, doing research about the company will help you know if you really want the position and will help you seem like a serious job applicant during the interview. True False

true

When giving a potential employer a list of references, it is a good idea to indicate each individual's relationship to you. True False

true

When opening a bank account, you need two forms of ID and one must have your photo on it. True False

true

When reconciling your bank statement, you include any interest that you've made on your account. True False

true

When using both ATM cards and debit cards, you have to enter your personal identification number (PIN) to use the ATM. True False

true

With brand preference, consumers rely on previous habits and experiences with a product and tend to choose it again. True False

true

YTD earnings indicates how much you have earned from the beginning of the year to the current date. True False SAVE/CHECK ANSWERS

true

You fill out the dollar amount on a check in both numeral and written-out forms. True False SAVE/CHECK ANSWERS

true

You focus on both deposits and withdrawals made concerning your account. True False SAVE/CHECK ANSWERS

true

You have to provide forms of identification and other identifying information in order to open an account. True False SAVE/CHECK ANSWERS

true

You should use firewalls or other software to help protect your computer. True False

true

You would set aside money for an emergency fund if you wanted to be prepared for any future accident or illness. True False

true

Match each property of money to its definition. acceptability scarcity stability of value uniformity users must agree that the money is valid for economic transactions distinctive features that make it identifiable must be scarce to have value purchasing power should be fairly constant

uniformity distinctive features that make it identifiable acceptability users must agree that the money is valid for economic transactions scarcity must be scarce to have value stability of value purchasing power should be fairly constant

Which of the following is the most professional thing to do after a job interview? write a thank you note wait for the interviewer to contact you call the company back with more questions post the details of your interview online SUBMIT FOR GRADING

write a thank you note

Which of the following is NOT affected by a poor credit score? your ability to pay with cash your ability to get a mortgage your ability to rent an apartment your ability to get a job

your ability to pay with cash

According to the article, what is your most important financial asset? your income your car your insurance your home

your income

His car payment is the first area the high school student should start reducing his spending in. False True

false

Which group do brand advertisers focus on the most? the young the middle-aged the wealthy the elderly

the young

Identity theft can hurt your credit score drastically, but the harm will only last a couple of months. False True

false

The amount spent on online purchases was __________ in 2000, and it was __________ in 2005. $27.6 billion, $87.8 billion $70.7 billion, $34.4 billion $87.8 billion, $27.6 billion $44.8 billion, $56.5 billion

$27.6 billion, $87.8 billion

Which age group experiences the highest percentage of identity theft? 18-24 33- 44 62-77 25-32

18-24

How many iPhone App Store downloads were purchased in 2012? 2 billion 4 million 1.5 billion 100 million

2 billion

Which of the following is a benefit of looking for a job on the Internet? All of the answer choices are correct. You can apply online. You can look up career resources. You can post your résumé. SAVE/CHECK ANSWERS

All of the answer choices are correct. You can apply online. You can look up career resources. You can post your résumé.

Which of the following is a statement that forms part of the acronym SCAM? (Select all that apply.) Be stingy. Maintain careful records of all your financial accounts. Check your bank and credit card statements regularly. Ask for your credit report every 12 months. Cancel your ATM account periodically and open up a new one.

Be stingy. Maintain careful records of all your financial accounts. Check your bank and credit card statements regularly. Ask for your credit report every 12 months.

Which of the following is an action you should take if you have personal information stolen? Change your ATM account and PIN. Tell a credit reporting company to put a fraud alert on your credit report. Tell your creditors and banks to close out accounts that the thieves have access to. Wait until a week passes before contacting your creditors or banks.

Change your ATM account and PIN. Tell a credit reporting company to put a fraud alert on your credit report. Tell your creditors and banks to close out accounts that the thieves have access to.

What does the amount of smartphone sales indicate? Consumers are willing to pay more money for products that have a strong appeal to them. Consumers value low cost more than any other buying incentive. Consumers will actively protest against products that they feel are more expensive than the products' competitors. Consumers value products that have high prices but do not buy them.

Consumers are willing to pay more money for products that have a strong appeal to them.

When applying for a job, what is a benefit to doing research on the company you are applying to? (Select all that apply.) Doing research will help you get the position you are applying for, guaranteed. Doing research will help you give answers about your past job experiences during the interview. Doing research will help you seem like a serious job candidate during the interview. Doing research will help you know if you are really interested in the position. SAVE AND EXIT

Doing research will help you seem like a serious job candidate during the interview. Doing research will help you know if you are really interested in the position.

As can be seen from the low amount of iPhone sales, consumers always value low prices more than other buying incentives. False True

False

Which of the following describes one of the reasons why Steve Jobs resigned as CEO of Apple? He didn't feel he could complete his CEO duties well enough. He wasn't being payed enough. He was disliked by other Apple employees. Apple was about to go bankrupt.

He didn't feel he could complete his CEO duties well enough.

Which of the following is a question you might want to ask at an interview at Golden Years Senior Living to show that you are a serious job applicant? (Select all that apply.) How do workers best achieve this company's high hospitality standards? What interactions do the servers usually have with the residents and their families? What do workers need to do to prove themselves and work toward possible career advancement? Why does this position only pay minimum wage? SAVE/CHECK ANSWERS

How do workers best achieve this company's high hospitality standards? What interactions do the servers usually have with the residents and their families? What do workers need to do to prove themselves and work toward possible career advancement?

Which of the following is precaution you can take to protect against identity theft? (Select all that apply.) Install software protection programs on your computer. Use a variety of passwords. Make sure the websites you are visiting are secure. Use the same password for more than one site.

Install software protection programs on your computer. Use a variety of passwords. Make sure the websites you are visiting are secure.

Which of the following is a reason why the property of uniformity is important for money to have? (Select all that apply.) It makes the money harder to counterfeit. It helps the money look different than other similar objects. It helps identify the value of the money. It helps the money remain scarce.

It makes the money harder to counterfeit. It helps the money look different than other similar objects. It helps identify the value of the money.

Which of the following statements describes warranty? (Select all that apply.) It is a tax based on the value of goods or services at the time of sale. It states that a defective good or service will be repaired, replaced, or compensated for. It is a voucher that is redeemable for a discount off a particular good or service. It is a set of legally binding conditions.

It states that a defective good or service will be repaired, replaced, or compensated for. It is a set of legally binding conditions.

Which of the following is an argument that sales tax should be placed on digital products? It would be fair to have taxes on both online and offline products. It would be unfair to have taxes on both online and offline products. It would be better for consumers to have taxes on both online and offline products. It would be better for the economy to have taxes on both online and offline products.

It would be fair to have taxes on both online and offline products.

Which of the following is a change that has occurred in the workforce since the 1950s? (Select all that apply.) More women have entered the workforce. The workforce in the United States is better educated. The workforce has become more oriented around physical labor. More children have entered the workforce.

More women have entered the workforce. The workforce in the United States is better educated.

How has the US workforce changed since the 1950s? The majority of occupations focus more on physical labor. The workforce is less educated. Occupations rely more heavily on technology. Less women are in the workforce.

Occupations rely more heavily on technology.

_____ properties are characteristics of money itself, and _____ properties are associated with the role money has within the market. Physical, economic Economic, standard Physical, standard Economic, physical

Physical, economic

Why is it important for money to have the property of stability of value? Rapid shifts in purchasing power would negatively affect money's ability to act as a store of value. Rapid shifts in purchasing power would negatively affect money's ability to have the property of durability. Rapid shifts in purchasing power would negatively affect money's ability have the property of uniformity. Rapid shifts in purchasing power would cause money to be more scarce and increase its value. SAVE/CHECK ANSWERS

Rapid shifts in purchasing power would negatively affect money's ability to act as a store of value.

Which of the following does NOT describe the company Apple? When Steve Jobs resigned as CEO, Apple was the most valuable company in the world. Steve Jobs's actions when he first became CEO decreased Apple's profits and success. Steve Jobs and Steve Wozniak sold personal belongings to help start Apple. Apple has experienced ups and downs.

Steve Jobs's actions when he first became CEO decreased Apple's profits and success.

What commonalties do rebates and coupons have? (Select all that apply.) They both have fine print terms and conditions. They both have a cash value. They both usually have a time frame for redemption. They both have to be mailed in to be redeemed. SUBMIT FOR GRADING

They both have fine print terms and conditions. They both have a cash value. They both usually have a time frame for redemption.

What does it mean if consumers have brand insistence? They only want the brand and not any alternatives. They want the brand and its alternatives. They are insisting that brand be boycotted. They only want the alternatives to a brand.

They only want the brand and not any alternatives.

When brand advertisers try to get consumers to mark themselves with a brand to show they belong to a certain group, they are encouraging __________. cultured taste sophisticated habits an intellectual pattern a basic tribal instinct

a basic tribal instinct

Which of the following occurrences would you NOT use the money in your emergency fund for? a car wreck an illness a broken bone a car payment

a car payment

A stop-payment order is usually utilized if __________. a check needs to be associated with a financial institution a check exceeds the existing balance of an account a check is lost or stolen a check needs to be cashed

a check is lost or stolen

A resume should be very detailed. False True

false

Medicare is __________. a government program that receives funds from an employee's payroll deductions and that covers hospitalization and medical insurance for persons age 65 and over as well as for qualified disabled persons under 65 a federal program that receives funds from an employee's payroll deductions throughout his or her lifetime and is used to financially aid older citizens, orphaned children, and the disabled a benefit offered by many employers where an employee's net income is automatically deposited to his or her designated bank account a federal program that mediates the care given to those who are unemployed because of an economic recession SAVE/CHECK ANSWERS

a government program that receives funds from an employee's payroll deductions and that covers hospitalization and medical insurance for persons age 65 and over as well as for qualified disabled persons under 65

Bank reconciliation is __________. a report that tracks an individual's record of transactions and balances according to the bank's record a fee-paid service for the bank not to cash a particular check, which is usually utilized if a check is lost or stolen the set of numbers on the lower left side of a check that associates a financial institution with the account a record of an individual's financial account that shows balances, deposits, withdraws, checks paid, and any fees associated with the account SAVE/CHECK ANSWERS

a report that tracks an individual's record of transactions and balances according to the bank's record

All you need to open an account at a bank is your Social Security number. True False

false

An ATM card can be used like a credit card when purchasing something at the store. False True SAVE/CHECK ANSWERS

false

When using debit cards, your expenditures ___________. are immediately taken out of your checking account are invoiced like a bill are processed with borrowed money like a credit card must go through a check clearing house

are immediately taken out of your checking account

Which of the following makes up a rebate offer? (Select all the apply.) are used as incentives to buy a product cash back on certain amount of money usually time-sensitive have to have proof of purchase

are used as incentives to buy a product cash back on certain amount of money usually time-sensitive have to have proof of purchase

As of 2005, no state governments have tried to collect sales tax for online purchases. False True

false

Banks have few regulations that they have to follow when helping customers open accounts. False True

false

Brands became more significant as a result of the __________. baby boom start of World War II Great Depression Vietnam War SAVE/CHECK ANSWERS

baby boom

Which of the following is NOT a function of money? barter standard of value medium of exchange store of value SAVE/CHECK ANSWERS

barter

Why is it important that paper bills are light and easy to carry? because money needs to have the property of portability because money needs to have the property of uniformity because money needs to have the property of divisibility because money needs to have the property of scarcity

because money needs to have the property of portability

Which of the following would be the opposite of splurging? being frugal being wasteful impulse buying rewarding

being frugal

Match each term with the example given in your reading. brand preference Pepsi® versus Coca-Cola® products brand insistence Tiffany&Co.'s® diamonds brand recognition McDonald's

brand preference Pepsi® versus Coca-Cola® products brand insistence Tiffany&Co.'s® diamonds brand recognition McDonald's

Brand names do not affect consumers and their spending habits. False True

false

Brands began to develop more at the end of the Vietnam War. True False

false

Commodity money is the main type of money used today. False True

false

Which of the following can you deposit in a checking account? (Select all that apply.) cash money orders checks credit cards

cash money orders checks

The cash going in and out of one's wallet and/or bank account is called __________. currency waves cash needs currency management cash flow

cash flow

The number in the top right corner of the check is the __________. check number account number dollar amount routing number

check number

Match each term to its definition.

check register an informal record of all of an individual's checking deposits and withdrawals endorsement in regards to check cashing, a person's signature on the back of a check, which is required in order to cash the check and should be spelled the same as what's written on the check stop-payment order a fee-paid service for the bank not to cash a particular check, which is usually utilized if a check is lost or stolen routing number the set of numbers on the lower left side of a check that associates a financial institution with the account overdraft a check or other withdrawal that exceeds the existing balance

When you're balancing your checkbook, you are __________. checking all of the deposits and payments that you've made so that it matches your bank account balance illegally covering up purchases you've made so that it matches your bank account balance performing an acrobatic trick borrowing money from others' checking accounts so that you can increase your bank account balance

checking all of the deposits and payments that you've made so that it matches your bank account balance

Which of the following types of money draws its value from the type of material from which it is composed? commodity money value money fiat money representative money

commodity money

Which of the following does NOT have the ability to be deposited into a checking account? checks money orders credit cards cash

credit card

Kelsie normally budgets $20 a month toward entertainment, but this month she has to adjust that amount so that she can pay a lab fee for one of her classes. Kelsie adjusted her budget to accommodate her __________. frugal needs daily needs emergency needs current needs

current need

Which of the following is NOT a type of checking account mentioned in the lecture? debit account student account joint account business account

debit account

Match each term to its definition.

divisibility the ability of money to be dividable so that change can be made portability the ability of money to be small, light, and easy to carry durability the ability of money to be able to hold up after many transactions uniformity the need for paper money to have consistent form, markings, and size, and for coins to look different than other metal disks

Which of the following is a tool to help you keep your identity and personal information safe? (Select all that apply.) encryption passwords pyramid schemes spam

encryption passwords

A markup is usually created to move slow-selling products from inventory. False True

false

Which of the following is an action you can take using a basic checking account? (Select all that apply.) make purchases using a check or debit card that withdraw money from it deposit money into it pay interest on the money you have in it get student loans from it

make purchases using a check or debit card that withdraw money from it

Mercedes owns her own business and often increases the prices of the goods in her store to cover her shipping costs. What term describes Mercedes's actions? markup warranty markdown sales tax

markup

Which of the following is a function of money? (Select all that apply.) standard of value medium of bartering store of value medium of exchange

medium of exchange standard of value store of value

Steve Jobs secured Apple's first computer sale. From that moment on, what financial skill has played a key role in the overall success of Apple? money management current needs impulse buying reward SAVE/CHECK ANSWERS

money management

From 2000 to 2005, the amount of money spent on online purchases in the United States has __________. decreased fluctuated more than tripled doubled

more than tripled

Which of the following is an area the high school student should look to first for cutting his spending? (Select all that apply.) movie and video game rental music and video game downloads savings car insurance

movie and video game rental music and video game downloads

How long should a résumé be? three pages one page two pages four pages or more

one page

When using an ATM, you have to enter your __________ for both debit cards and ATM cards. property identification number (PIN) personal identification number (PIN) purchasing identification number (PIN) priority identification number (PIN)

personal identification number (PIN)

Which of the following did Steve Jobs and Steve Wozniak experience while starting the company Apple? (Select all that apply.) business opportunity cost personal opportunity cost financial opportunity cost impulse buying

personal opportunity cost financial opportunity cost

A technique an identity thief uses that involves sending an unsolicited, fake email that appears to be from a legitimate source is called __________. phishing shoulder surfing hacking dumpster diving

phishing

Which of the following is one of the two categories of the properties of money? (Select all that apply.) physical economic intellectual intangible

physical economic

Which of the following physical properties of money means that it is small and easy to carry? portability uniformity durability divisibility

portability

Which property of money is associated with why paper bills are better to use for money than cattle? acceptability stability of value durability portability

portability

Money gives a(n) _____ method of exchanging goods and services. (Select all that apply.) precise convenient flexible unpredictable SAVE/CHECK ANSWERS

precise convenient flexible

A _____ is a deduction and or return of part of the original payment for a good or service. rebate sales tax coupon warranty

rebate

Which of the three types of currency is the least portable? the cattle the dollar bill the shells All three types of currency have the same degree of portability.

the cattle

In the United States, what is the basic monetary unit that acts as the standard to measure the economic worth of goods and services? the penny the dollar the peso the quarter

the dollar

The standard of value is __________. a means through which goods and services can be exchanged anything that people will accept as payment for goods and services the indicator that determines economic worth in the exchange process something that holds its value over time SAVE AND EXIT

the indicator that determines economic worth in the exchange process

What part of the check is used to show what the check will pay for? the memo line the signature line the dollar amount line the "Pay to the Order of" line SAVE/CHECK ANSWERS

the memo line

Why did brands begin to develop? to demonstrate to consumers that buying a brand product could bring happiness to demonstrate to consumers that there was a difference between them and their competitors to demonstrate to consumers that higher-quality products could be affordable to trick consumers

to demonstrate to consumers that there was a difference between them and their competitors

What is the purpose of the bank reconciliation sheet? to make sure your bank statement matches your own financial records for the month to project the total balance you will have at the end of the year to predict how an investment could pay off to help you make large purchases such as a house or a car

to make sure your bank statement matches your own financial records for the month

What does it mean to "bounce a check"? to not have enough funds in your account to cover a check amount and then incur overdraft fees to drop your checkbook to not have enough funds in your account to pay any overdraft fees you might incur from trying to switch banks to not have enough funds in your account to pay your bank for the checks they sell to you SAVE/CHECK ANSWERS

to not have enough funds in your account to cover a check amount and then incur overdraft fees

On a check, what is the memo line for? to make the check finalized and legitimate to show how much money the check is for to write what the check will pay for to write who the check is being paid to

to write what the check will pay for

A career allows you to have a work path that provides satisfaction and personal challenges. True False

true

A minimum balance requirement is the amount of money needed in an account to avoid fees. True False

true

A system of barter does NOT use money. True False

true

According to the Social Security Administration, one in four 20-year-olds will become disabled. True False

true

According to the article, one way to potentially protect your income is to get disability income insurance. True False SAVE/CHECK ANSWERS

true

All three types of currency could act as money because they all have the property of divisibility. True False SUBMIT FOR GRADING

true

At the time that Steve Jobs resigned as CEO, Apple was the most valuable company in the world. True False

true

Because money retains its value, it can be saved and then spent in the future. True False

true

Brands began to develop as a response to the need to portray difference despite manufactured similarities. True False

true

Brands can play a role in individuals' identity. True False

true

By having to sell their personal belongings to help finance their new business venture, both Steve Jobs and Steve Wozniak experienced personal and financial opportunity costs. True False

true

Consumers have brand insistence when they refuse to buy alternatives to a brand-name product. True False

true

Consumers' friends can affect their brand loyalty. True False

true

Coupons are vouchers that are offered at discount percentages for a particular product. True False

true

Everyone has funds deducted from their paycheck that go to help fund Social Security and Medicare. True False

true

Fiat money only has value because the government says it does. True False

true

Following money management principles is important for the financial success of both individuals and businesses. True False

true

If I am a victim of identity theft, it might take weeks, months, or even years to correct the damage done. True False

true

If I notify one credit reporting company that I need a fraud alert placed on my report, that company will inform the other reporting companies. True False

true

Money's property of durability is important because it would not be an effective item of economic transaction if it were always falling apart. True False

true

On a paystub, the acronym YTD means year to date. True False

true

One action that Jane could take to minimize the damage caused by the identity theft is file a report with her local police. True False

true

One argument against putting sales tax on digital products is that doing so could slow the growth of the online marketplace. True False

true

People take their system of money for granted. True False

true

The company Apple was started in a garage. True False

true

The dollar is the United States's basic monetary unit. True False

true

The idea of marking oneself to show belonging to a group is a basic tribal instinct. True False

true

The nine-digit number on the bottom of a check is the routing number. True False

true

The property of uniformity helps make money harder to counterfeit. True False

true

To "bounce a check" is to not have enough funds in your account to cover a check amount and then incur overdraft fees. True False

true