Economics
Income & Ed
Financial Planning
Credit
Wealth / CC
100
Hurricane Jear Bear wiped out the majority of oranges grown in Florida. What will happen to the Supply AND price of oranges
Supply -
price +
100
College is expensive but offers may types of Financial Aid for students such as, FAFSA, Grants, Work Study, Scholarships, Subsidized loans, Unsubsidized loans, & Private loans. Which of the following must paid back?
Subsidized, Unsubsidized, & Private student loans.
100
Identify 1 Fixed and 1variable expense
Fixed: rent / mortgage, car loan
Variable: entertainment, groceries
100
Which two are most responsible for determining your Fico Credit Score
Payment history & amounts owed
100
London is a risk taker; scared money makes no money. Which of the following investments offers the highest risk and highest reward.
Individual Stocks, Mutual Funds, Bonds, CD Certificate of deposit, or money market account?
Individual stocks
200
Pepsi just purchased its major competitor coca cola. This would make Pepsi the one and only owner of all soft drinks. This would make Pepsi a _____
Monopoly
200
What is the opportunity cost of not getting a college degree.
Higher earning potential
200
Identify at least 2 Fico deductions
-Social Security
- Medicare
- Federal taxes
- State taxes
200
When taking out a loan, what should you be looking at?
-Loan Term
-APR / Interest Rate
-credit score
200
Identify one pro and con of a CD (Certificate of deposit)
Pro- gain interest, considered really safe
Con- locks money for a period of time, cant take money out before CD date with out penalty.
300
Greensboro city council wants to raise money in order to renovate Barber park, and raise police, fire fighter, and teacher pay. Which type of taxes will be used to fund the projects?
Local / Property taxes
300
What are at least 3 costs associated with attending college?
Tuition, room & board, meal plan & books,
300
Identify 4 cost of living expenses
-rent / mortgage
- transportation
- food
- utilities
entertainment
300
What are ways one can improve their credit score?
- Paying your loans on time.
- Not getting too close to your credit limit.
- Having a long credit history.
- Making sure your credit report doesn't have errors.
300
Identify best practices in preventing fraud
- frequently check your bank statements & credit reports.
- don't click suspicious links
- If its too good to be true, then it probably is
400
2020 Covid shut down lead to a rise in unemployment and fall in GDP. Which part of the business cycle best fits the description 
Recession
400
(Private School) Guilford College cost 40k per year and is offering you a 20k scholarship.
(State School) UNCG cost is 10k per year and offering a 5k scholarship
Which school should a financially responsible person attend?
UNCG
400
what is a Dependent on your W4 withholding
children
400
Mr. Blackston just bought a new home. Why do you think he went with the
30 year, 20k downpayment, 6.7% Fixed interest
rather than the
30 year, 20k downpayment, 6.1% Adjustable interest rate?
Adjustable interest rates are more risky as the interest rate is always changing. it may be 6.1% one year and 8% another year.
400
What difference is there between a
Traditional IRA & a Roth IRA when withdrawing earnings during retirement?
Traditional IRA: Tax Deferred (Pay taxes later) Pay taxes on withdrawals
Roth IRA: no taxes on withdraws
500
The economy is in a recession and needs a boost. ______ decides to lower interest rates to encourage consumer borrowing / spending, thus increasing money supply & stimulating the economy.
Federal Reserve / The Fed
500
it is assumed, the higher education you have, the higher____ you will earn
income
500
Identify & Describe two reasons why someone would buy AND rent a home
answers will vary
Rent: cheaper, more flexible, less maintenance
Own: Build equity, its your property, it is an asset
500
What does putting a downpayment on your mortgage do to your monthly payments?
lowers monthly payments
500
Mackenzie Scott donated 30 million dollars to WSSU this year so the school may offer scholarships, better dorms, etc. What do we call these type of donations?
Starts with a P
Philanthropy