The World of Money
_______ measures the change in the general level of prices of goods and services in an economy over time.
Inflation
_______ _______ is a tax imposed on individuals that varies with respective income.
Income tax
________ ________ is the lowest wage that employers can legally pay their workers.
Minimum Wage
A _______ is a share of ownership in a company.
stock
_______ occurs when a person is actively seeking work, and is currently without work.
Unemployment
_______ is the price a borrower pays for the use of money they do not own.
An _______ _______ is a tangible or visible reward given to an individual or an employee, like a raise in salary.
extrinsic reward
This phrase refers to spending only what you can afford (not overspending), and happens in the discretionary part of your budget where the expenses vary from month to month.
Living within Your Means
A _______ is a measure of the gain or loss generated from an investment.
return
A _______ _______ is the lowest rate of pay that a firm can legally pay its workers.
minimum wage
_______ is a contractual agreement in which a borrower receives money now and agrees to repay the lender at a specified date in the future, generally with interest.
Credit
A _______ _______ is an interest-bearing deposit account held at a bank or other financial institution where you can regularly put away money for use at a later date.
savings account
_______ ________ is the amount of money that you get to keep at your job after deductions, like withholdings and taxes.
Net Salary
A _______ is money that will be paid to a person when they retire.
pension
A _______ is an action taken by a company to temporarily or permanently terminate the employment of a group of workers.
layoff
The _______ is the system by which people interact and trade goods and services with each other.
economy
_______ _______ are expenses we pay each and every month, like rent.
Fixed Expenses
_______ _______ also known as variable expenses, they tend to vary each month. These are expenses that we make choices about, like shopping for clothes.
Discretionary Expenses
_______ is when you mix a variety of investments within a portfolio as a way to manage risk.
Diversification
A _______ ________ is a type of organization usually consisting of workers in the same occupation or industry whose purpose is to negotiate with firms over wages, hours, benefits, job security, and working conditions.
labor union
_______ _______is the area of finance concerned with how people make decisions on spending and saving money and investing for retirement.
Personal finance
An _______ _______ is a reward that come from within, like satisfaction with a job well done.
intrinsic reward
_______ _______ is the full amount of money that you make at your job before any deductions occur.
Gross Salary
What does IRA stand for?
Individual Retirement Account
Unlike being fired, a layoff is not due to...
any fault of the worker.