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Spending, Saving, and Investment
Monetary and Fiscal Policy
Credit
Insurance
Earnings and Other Stuff
100
Savings resources that could be used for immediate benefit for some greater benefit at a later time.
What is investment?
100
Consumers will be more likely to do this if the Federal Reserve increases the reserve requirement.
What is save their money?
100
An agreement in which a buyer receives goods or services at the present time in exchange for a promise to pay for them later.
What is credit?
100
An investment which allows someone to transfer financial risk.
What is insurance?
100
A college degree often results in this.
What is higher earnings for a worker?
200
The way banks make a profit.
What is by charging borrowers a higher interest rate than they pay to depositors?
200
How the government's fiscal policy effects private citizens.
What is it determines how much money they have available to spend?
200
The percentage of payment by borrowers to the lender.
What is interest rate?
200
The amount of money you must pay per month, per quarter, or per year in order to guarantee coverage.
What is a premium?
200
These skills important in the labor market. They include "teaching others new skills, working with diversity, and working well with others."
What are interpersonal skills?
300
An individual would invest these if they're looking for long-term growth and security for their money.
What are mutual funds?
300
These are convenient, but consumers pay a price for convenience with high, variable interest rates which is usually compounded monthly.
What are credit cards?
300
The amount of loss you must pay yourself before the insurance company will step in and pay when claim is filed.
What is deductible?
400
The difference between simple and compound interest.
What is simple interest is interest paid on the principal, while compound interest is applied to both the principal and the accrued interest?
400
The US federal income tax is an example of this.
What is a progressive tax?
400
A credit bureau determines this by looking at your credit history--how well you have managed your bills and credit in the past.
What is a credit score?
400
What you could expect if you switched to an insurance policy with a higher deductible.
What is a lower premium?
400
The difference between whole life and term life insurance.
What is whole life is more expensive, but provides coverage for your whole life and has a cash value that increases over time; term life is cheaper, for a limited term, and has no cash value?
500
The difference between commerical banks and credit unions.
What is credit unions are non-profit and take deposits/give loans only to their members, whereas commercial banks are for-profit and available to everyone?
500
An example of a regressive tax.
What is sales tax?
500
3 factors that determine your credit worthiness.
What are annual income, current debt, and timeliness of repaying debt?
500
This type of insurance pays you a monthly income if you are not able to work for an extended period of time.
What is disability insurance?
500
The effect of demand on earnings.
What is the higher the demand for a job, the higher the earnings.