Vocabulary
What is the fee you pay for borrowing money?
A) Deposit
B) Loan
C) Interest
D) Transaction
C) Interest
This economic term is defined as "a long period of seriously reduced business activity and high unemployment."
Depression
This phrase refers to the passage of time as a series of events or seasons that happen again and again.
Cycle of life
True or False:
A deposit is money you take out of a bank account.
False (A deposit is money you put into a bank account.)
This date, known as "Black Tuesday", marks the stock market crash that led to the Great Depression.
a. October 9, 1929
b. October 19, 1929
c. October 29, 1929
c. October 29, 1929
This term refers to an old, well-known story about brave people, adventures, or magical events.
Legend
Match the financial term with its definition:
1.Allocate
2. Loan
3. Reminder
A) Something that helps you not forget
B) Money you borrow
C) To assign or give something to a particular purpose
1 - C
Allocate - To assign or give something to a particular purpose
2 - B
Loan - Money you borrow
3 - A
Reminder -
Something that helps you not forget
Which of the following was NOT a major cause of the Great Depression?
a. Stock market speculation
b. Overproduction of goods
c. Rising wages for all workers
d. Banking failures
c. Rising wages for all workers
Elders in Native American tribes pass down traditions and stories through this method.
a. Oral tradition
b. Folklore
c. Written records
d. Storytelling ceremonies
a. Oral tradition
Fill in the Blank:
Having a long-term _____ on your finances helps with future financial stability.
a. impact
b. perspective
c. transaction
d. promotion
b. perspective
President Hoover avoided direct aid to the public, instead relying on _____, which ultimately failed to help most Americans.
Voluntary private relief
Figuring out how to send people on space missions is a ______ challenge.
A) Demanding
B) Daunting
C) Difficult
D) Overwhelming
Correct answer: B) Daunting (something that seems difficult, intimidating, or overwhelming to deal with).
• A) Demanding is close but usually refers to something that requires a lot of effort rather than something intimidating or overwhelming.
• C) Difficult is a general word for something hard but doesn’t convey the same level of intimidation or complexity as “daunting.”
• D) Overwhelming suggests an emotional or extreme burden, but “daunting” is the more precise collocation for a big, complex challenge.
What is a transaction in financial terms?
An exchange of goods, services, or funds.
As businesses failed and wages fell, purchasing power decreased, leading companies to further cut production and jobs. This self-reinforcing downward spiral is known as:
A) The Domino Effect
B) The Vicious Economic Cycle
C) The Boom-and-Bust Cycle
D) The Deflationary Spiral
B) The Vicious Economic Cycle
• A) The Domino Effect refers to a chain reaction of events but is often associated with political or international events rather than economic cycles.
• C) The Boom-and-Bust Cycle describes periods of economic growth followed by sharp downturns, but it doesn’t specifically describe the self-perpetuating job loss and reduced purchasing power in a recession.
• D) The Deflationary Spiral is similar but refers more specifically to falling prices, not just economic contraction.
Question: Which of the following is the best collocation with "eclectic"?
A) Eclectic routine
B) Eclectic collection
C) Eclectic difficulty
D) Eclectic work
B) Eclectic collection
Eclectic is defined as selecting or combining ideas, styles, or tastes from a wide and diverse range of sources rather than following a single approach.