Money Matters Final Review

When did the Great Depression start?

1929

REM sleep accounts for what percentage of the sleep cycle?

20%-25%

Which of the following accurately describes a PERT chart?

A graphic with numbers, circles, and squares linked by arrowed lines

Which of the following best describes a credit union?

A members-only cooperative created by labor unions or groups of employees

Which of the following is an example of delegation?

A mother assigning chores to children

A good for which demand will not change in relation to price is known as which of the following?

A necessity

Which of the following accurately describes a balance sheet?

A summary of a business's assets, liabilities and equity

Which of the following is an accurate description of take-home pay?

After-tax income available for living expenses

Sources of capital include which of the following?

All of these are sources of capital

Which of the following accurately describes a franchise?

An agreement to operate a business in the name of an established company

Which of the following is NOT true of a Roth IRA?

Applies a 10% tax penalty on withdrawals before 59.5

The Federal Trade Commission Act considers which of the following an unfair and deceptive practice?

Bait and switch

Discrepancies in your checkbook occur in which of the following situations?

Bank statement differs from your check register

Because of family life cycle changes, goals require which of the following?

Constant updating

Which of the following is the most complicated form of business?

Corporation

Which type of risks occur from fluctuations in business conditions?

Economic risk

Which of the following is a type of currency a government has declared to be a legal tender, but is not backed by a physical commodity?

Fiat Money

Which of the following types of currencies was NOT used in the U.S.?

German currency

Which of the following is an example of a variable expense?

Groceries

A budget helps prevent debt by which of the following?

Identifying shortages before they happen

Budgeting finances requires calculating ______________ and ______________

Income: expenses

The economy of the United States depends on which of the following?

Individual participation

___________ is the act or still of controlling and making decisions about the use of resources.

Management

Money can be used to intermediate the exchange of goods and service. This describes which of the following basic functions of money?

Medium of exchange

How does immigration impact the economy?

More people equals more money in circulation

Which of the following type of notes were produced in 1863?

National banknotes

Where was the headquarters of the First Central Bank of the United States?

Philadelphia

Mutual Funds can be described by which of the following?

Professionally managed

Colin is borrowing money from his uncle to start his business. In order to help avoid misunderstandings regarding the loan, Colin should do which of the following?

Put all agreements in writing

If your income exceeds your expenses, which of the following is recommended?

Research investment and saving options

The process of planning how time will be used to complete tasks is known as which of the following?

Scheduling

If there is a change in the number of producers in the market, which of the following will also change?

Supply

The family life cycle helps marketers define which of the following?

Target market

Which of the following is an example of a natural risk?

Tornado

Government bonds are issued by which of the following financial institutions?

Treasury Department

Task in which time is of significant consequences are known as which of the following?

Urgent

Which of the following are NOT macronutrients?

Vitamins

Common stock differs from preferred stock in which of the following?

Voting rights

Which of the following defines opportunity cost?

What you give up in order to have another thing

A $20 bill features which of the following on the reverse?

White House