Who We Are
WHAT SCHOOL ARE WE FROM
UNIVERSITY OF MICHIGAN
WHAT ARE THE THREE MAIN FORMS OF PAYMENTS?
CASH, CARDS, ELECTRONIC PAYMENT
WHO GETS THE TAXES YOU PAY?
THE GOVERNMENT
WHERE DO PEOPLE KEEP THEIR MONEY INSTEAD OF A SAFE OR UNDER THEIR BED?
BANKS
DOES INFLATION INCREASE OR DECREASE PRICES OVER TIME?
INCREASE
WHAT DOES EOC STAND FOR?
EDUCATION OUTREACH COMMITTEE
WHAT ARE THE TWO TYPES OF CARDS?
DEBIT AND CREDIT
IF YOU LEAVE MONEY IN A BANK DO YOU GAIN OR LOSE MONEY OVER TIME?
YOU GAIN MONEY
WHAT DO BANKS DO WITH THE MONEY PEOPLE PUT INTO IT?
THEY LEND IT TO OTHERS
WHAT WILL HAPPEN TO THE INFLATION RATE IF THE GOVERNMENT PRINTS LOTS OF MONEY
IT INCREASES
WHAT DOES MFED STAND FOR?
MODEL FEDERAL OPEN MARKET COMMITTEE
WHAT IS THE DIFFERENCE BETWEEN A CREDIT CARD AND DEBIT CARD?
WITH A CREDIT CARD YOU BORROW MONEY. WITH A DEBIT CARD YOU USE THE MONEY YOU HAVE
IF YOU TAKE MONEY OUT OF A BANK DO YOU HAVE TO PAY BACK THE BANK MORE OR LESS MONEY?
YOU PAY MORE MONEY
WHAT IS THE WORD FOR WHEN BANKS PAY YOU MONEY WHEN YOU STORE YOUR MONEY THERE?
INTEREST
WHAT IS DEFLATION?
WHEN PRICES GO DOWN INSTEAD OF UP!
WHAT IS THE NAME OF ONE MEMBER
SELINA, ETHAN
WHAT IS ONE ELECTRONIC PAYMENT APP?
PAYPAL, VENMO, ZELLE, ETC
WHAT IS ONE TYPE OF TAX THAT YOU PAY?
PROPERTY, INCOME, SALES, INHERITANCE, OR CORPORATE TAXES AMONG OTHERS
IS A CHECKING OR SAVINGS ACCOUNT BETTER FOR MAKING MONEY IN A BANK?
SAVINGS ACCOUNT
WHAT IS HYPERINFLATION?
A VERY HIGH INFLATION RATE
WHEN WERE WE FOUNDED
2021
WHAT IS THE MOST COMMON TYPE OF PAYMENT?
CREDIT CARDS
IF THE MONTHLY INTEREST RATE IS 10%, AND YOU LEAVE $1000 IN THE BANK, HOW MUCH MONEY WILL YOU HAVE END OF THE MONTH
$1100
WHAT IS THE NAME OF THE CENTRAL BANKING SYSTEM OF THE UNITED STATES
THE FEDERAL RESERVE
WHAT IS THE CURRENT INFLATION RATE WITHIN 1 PERCENT?
THE INFLATION RATE IS 3 PERCENT! ANYWHERE FROM 2 PERCENT TO 4 PERCENT IS CLOSE ENOUGH