Personal Finance
Things you can convert to cash quickly
Liquid assets
A period in which the economy is shrinking
Recession
The total amount of the money you earn
Gross pay
The total amount of money you owe on a loan
Principal
Consumer by auto, home, life and health insurance as part of a ___________ ___________ plan
Risk management
Anything you own, such as cars, motorcycles or homes
Assets
A severe recession
Depression
The amount of money an employee takes home after taxes.
Net income
The fees that are charged by a lender on borrowed money
Interest
When we chose not to engage in dangerous or extreme activities, we are practicing what type of risk management
Risk avoidance
Anything that you owe, your debt
Liabilities
A sustained increase in the general level of prices
Inflation
Money collected by a government from citizens for the purpose of operating the government
Taxes
Money that a lender makes available to a borrower with the understanding that the borrower will repay the money in the future.
Credit
According to Cyndi Lauper, "Girls just wanna have ________"
Fun
The cost of pursuing one option instead of another, expressed as the value of the activity you gave up
Opportunity cost
Limited availability of a good or resource
Scarcity
Social Security and Medicare combined are deducted from your paycheck and listed as or called what
FICA
This summarizes and individual's credit history, including applications for credit, kind, payments, late fees and other public information.
Credit report
Foo Fighter lead singer Dave Grohl was the drummer for another band before being a Foo fighter. What band?
Nirvana
A forecast of future cash inflows and outflows
Budget
There normally exists a direct relationship price and quantity supplied
Law of supply
A tax system based on the "ability to pay" principle that takes a larger percentage of income from high-income taxpayers.
Progressive tax system
An example of revolving open-ended credit that is common among American consumers is
Credit cards
Who were the first three Disney princesses...in chronological order?
Snow White, Cinderella and Sleeping Beauty