Financial Literacy Review Chapter 1

A calculation that tells you how long it will take for your money to double is called:

Which is a need and not a want?

The ways in which people make, distribute, and use their goods and services is called:

Lynda is in need of a budget. Which expense should she NOT reduce?

How often your interest is calculated and added to your account:

Spending, saving and investing to have the kind of life you want with financial security is:

The central banking organization of the United States is called the:

What is the main cause of inflation?

To earn as much interest as possible, one should open a savings account that earns simple interest instead of compound.

Money saved in your pocket has less liquidity than money in a certificate of deposit.

Which of the following is TRUE?

If you select an account with high liquidity, it will be:

Which account will have a higher liquidity?

What is the typical relationship between time and interest rates?

Accounts with LOW LIQUIDITY tend to have :

What are our financial decisions based on?

Amount of money your original deposit will be worth in the future based on earning a specific interest rate:

A skateboard is a ____________.

In order to use the Rule of 72:

What is given up when making one choice instead of another is called:

When people buy more goods or services:

The beliefs & principles you consider important, correct and desirable are called:

Accounts with HIGH LIQUIDITY tend to have :

"A plan for your money"