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Financial Literacy Flashcards | StudBud
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Financial Literacy
Financial Literacy
30 terms
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StudBud Administration
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#math #financialliteracy #money
Flashcards
30 cards
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Practice quiz
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Questions
30
Answers
1
24. If you have income and earn money you will be taxed.
True
False
2
30. When does the government spend lots of money?
war time
peace time
always
election time
3
The IRS is the acronym for...
International Refusal Service
Internal Religion Seekers
International Regrowth Service
Internal Revenue Service
4
1. If you store money instead of spend it, its value will…
increase
decrease
stay the same
none of the above
5
25. What are the two types of government spending?
mandatory and restrictive
mandatory and discretionary
mandatory and feduciary
mandatory and military
6
20. What used to be very valuable in ancient times to pay soldiers with?
salt
pepper
money
sugar
7
19. What government system controls the amount of money in circulation?
U.S. Federal Reserve
IRS
FDIC
U.S. Mint
8
8. After every transaction you should get a ____________.
check
pay stub
receipt
ticket
9
11. A loan does what when a borrower does not pay the bank back?
decreases
declines
defaults
defects
10
5. The exchange of one set of goods or services.
barter
inflation
money
currency
11
18. the Ancient Roman word "salarium" is how we got what word in the English language?
annual
salsa
salad
salary
12
16. A a person who specializes in trading stocks is a what?
bondsman
loan officer
stockbroker
banker
13
3. A fast, general increase in prices is called what?
inflation
currency
money
barter
14
9. Goldsmiths were the first _________.
loan officers
stockbrokers
pirates
banks
15
28. What can a government do t slow down the economy?
spend less
raise taxes
spend more
lower taxes
16
15. A stock is the same thing as an _____________.
equity
entity
asset
credit card
17
22. During the Greta Depression millions lost their jobs, life savings, and banks failed.
True
False
18
10. Which corporation that insures bank deposits?
FDIC
U.S. Federal Reserve
FICA
U.S. Mint
19
6. Money must be what four things to be considered valuable?
portable, durable, divisible, and unlimited in availability
portable, durable, divisible, and limited in availability
portable, durable, divisible, and addible
portable, durable, divisible, and wearable
20
26. A program for people who meet certain requirements is called a...
entitlement program
financial program
legal program
mandatory program
21
21. If the GDP falls for at least six months in a row, the country is in...
stabilization
surplus
recession
depression
22
17. A bear market is when what happens?
when the stock market rises steadily.
when the stock market crashes.
when the stock market falls steadily.
when the stock market does nothing.
23
2. A measure or store of value, or a medium of exchange.
currency
inflation
barter
money
24
13. One of the U.S. larger stock exchanges is the __________.
DOW
NYSE
NASDAQ
USSE
25
7. What are the two types of bank accounts?
checking
loaning
saving
spending
26
14. Buying stock is...
not smart
risky
none of the above
smart
27
12. How do banks make a profit?
lending money
opening accounts for customers
storing money
customer fees
28
29. Who can predict what is going to happen in the economy?
President
nobody
Vice President
stockbrokers
29
4. Coins and paper bills used as money.
money
barter
currency
inflation
30
27. TANF os an entitlement program.
True
False
