Supply & Demand + Inflation
What is demand?
a) How much of something people want
b) The amount of money you own
c) How hungry you are
a) How much of something people want
What is interest?
a) Money that the government gives away
b) A type of car by Ford
c) Money earned from storing money at a bank
c) Money earned from storing money at a bank
Where does tax money go?
a) The government
b) Under the president's mattress
c) My house
a) The government
Which is the smartest use of money?
a) Rent
b) Nintendo Switch
c) Bottles of Pepsi
a) Rent
Who lives in a pineapple under the sea?
a) Mario
b) Spongebob
c) Iron Man
b) Spongebob
Supply and demand depend on which two factors?
a) Banks and Government
b) Nothing, they're random
c) Price and Quantity
c) Price and Quantity
What is a loan from a bank?
a) Money that is borrowed from a bank
b) A spare bank account that the bank lets you use temporarily
c) Money that the government sends you
a) Money that is borrowed from a bank
What is one use of tax money?
a) Funding road construction
b) Funding new video games
c) Funding Costco
a) Funding road construction
Which of the following should you save the MOST money for?
a) Food
b) Housing
c) Fortnite Cards
a) $78,000
Who was the 2nd president of the United States?
a) Barack Obama
b) John Adams
c) Thomas Jefferson
b) John Adams
What is the term for being able to buy more things with money?
a) Purchasing Power
b) Income Effect
c) Being Rich
a) Purchasing Power
How do banks make money from loans (giving away money)?
a) They don't make money, they're just generous
b) They take money bank accounts
c) People have to pay them back later
c) People have to pay them back later
What is the current California sales tax rate?
a) 7.25%
b) 0%
c) 15%
a) 7.25%
Why is California more expensive than other states?
a) Food is harder to get
b) The government artificially increases the prices
c) More people want to live here
c) More people want to live here
Which of the following animals is not a fish?
a) Salmon
b) Great White Shakr
c) Dolphin
c) Dolphin
If the price of something increases, what happens to supply and demand?
a) Supply increases and demand decreases
b) Supply decreases and demand increases
c) Nothing changes
a) Supply increases and demand decreases
What determines the amount of interest you receive?
a) The real estate market
b) Your annual income
c) The amount of money you put in the bank
c) The amount of money you put in the bank
If you make $50,000 and the income tax rate is 10%, how much do you pay?
a) $200
b) $5,000
c) $10,000
b) $5,000
a) $78,000
b) $123,000
c) $44,000
a) $78,000
If you're in a race and pass the person in 2nd place, what place are you in now?
a) 1st place
b) 2nd place
c) 3rd place
b) 2nd place
Which of the following is NOT a cause of inflation?
a) People not paying taxes
b) The government printing more money
c) People's wages increasing
a) People not paying taxes
What causes interest rates to increase?
a) More demand for money
b) Less demand for money
c) More money in circulation
a) More demand for money
What do tax brackets do?
a) Ensure that everyone pays their taxes on time
b) Increase the tax rate every year
c) Make people with higher incomes pay more income tax
c) Make people with higher incomes pay more income tax
Which of the following do people spend the most money on?
a) Water
b) Energy
c) Gas
b) Energy
What gets bigger the more you take away from it?
A hole