This table supports the conclusions that a salary —

increases as the level of education increases

Katie is in college. As she plans, what is her best chance for earning a higher income?

Focus on completing college & enhancing her tech skills

Employers want employees who demonstrate a strong work ethic, which is all of these, EXCEPT -

focusing on work others are doing

Maria has just purchased a new car. In order to be fiscally responsible, what should she do?

Plan to set aside enough money for gas each month.

Career planning starts with -

assessing your skills and talents

What is one of the main functions of private financial institutions?

Encourage savings & investing by paying interest on deposits

During the school year, which student would be the best match for this job?

Juanita has good attendance and good work skills.

To encourage people to save for future needs, private financial institutions -

pay interest on customers’ deposits

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Financial Literacy

17 termsStudBud Administration771 plays

This is financial literacy test to help students prepare for real world financial decisions.

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Questions 17

Answers

1
When faced with scarcity, consumers need to -
buy up all available items
reinvest their profits
charge more for labor
prioritize their wants
2
One important influence of new technology in the workplace is the -
creation of new jobs
increase in the cost of production
decrease in supply and demand
reduction of the flow of capital
3
This table supports the conclusions that a salary —
stays the same for the high school levels
increases as the level of education increases
grows at the same rate for each level
doubles once a college level is attained
4
You need to study for a test & your friends ask you to go to the movies. You study. The movies
opportunity cost
lost commodity
scarce resource
deficit
5
This advertisement in a bank illustrates which function of financial institutions?
Earning profits for banks
Encouraging saving money
Making loans to borrowers
Investing in savings bonds
6
Katie is in college. As she plans, what is her best chance for earning a higher income?
Find a job to earn some money now and go to school part time
Delay finishing school and begin her own business
Work extra hours, which requires her to cut study time
Focus on completing college & enhancing her tech skills
7
Employers want employees who demonstrate a strong work ethic, which is all of these, EXCEPT -
checking your own work to ensure accuracy
recognizing a task to be done and starting it
arriving on time each day and after breaks and lunch
focusing on work others are doing
8
Which example is a financial responsibility of citizenship?
Having insurance
Voting in elections
Using credit cards without budgeting
Participating in political campaigns
9
Maria has just purchased a new car. In order to be fiscally responsible, what should she do?
Volunteer to drive the elderly to doctor's appointments.
Plan to set aside enough money for gas each month.
Read the owner’s manual from cover to cover.
Go on a long road trip with her friends.
10
Nate likes both a blue shirt & black shirt, each costs $30. He buys the black one. This is his?
consumption
choice
opportunity cost
price
11
Career planning starts with -
deciding how much you want to earn
listing the jobs you have had in the past
determining the hours you will work
assessing your skills and talents
12
What is one of the main functions of private financial institutions?
Create earnings for increased government goods/services
They help the government maintain a balanced budget.
Encourage savings & investing by paying interest on deposits
They raise or lower the reserve requirement.
13
When customers deposit money into their accounts, the banks use the money to -
make loans to other customers
provide services to the public
open up additional branches
pay taxes to the government
14
During the school year, which student would be the best match for this job?
Lisa goes to school every day and is often late.
Juanita has good attendance and good work skills.
Mike studies hard and plays in all afterschool programs.
Shawn will graduate early and attend an out-of-state college
15
To encourage people to save for future needs, private financial institutions -
purchase stock and bonds
pay interest on customers’ deposits
offer low-cost loans
issue credit cards to customers
16
Which of these is NOT a private financial institution?
A securities brokerage
A savings and loan
A government finance committee
A credit union
17
Which completes the web?
Public goods and services
Sole proprietorship
Partnerships
Private Financial Institutions

Financial Literacy Flashcards | StudBud