The US imports cotton from India. A storm hit India and hurt their crops. What effect will this have on the price?

The US will pay more for the cotton, becuase there is less cotton.

Valentina wants to buy new shoes. She is going to borrow money from her grandma with interest. What does this mean?

Valentina will have to pay back all the money, plus some extra.

Mia will start a saving account while she is in 8th grade. Which is most likely NOT a reason she will need her savings?

Buying tickets to concerts and movies

A real estate company is selling the house. Three families are interested. What will happen with the price?

The cost of the home will increase, because more than one family wants it.

K bought a brand new truck. The cost of the truck was $29,540, he will owe $35,654. Why does he have to pay more?

K borrowed money from the bank and has to pay interest.

Terry works part time at a car wash. He works 20 hours after school and is paid each week. what statement is NOT true?

When Terry works more hours, he earns less income.

A school district pays its teachers. Which factor would most likely NOT affect the amount the school district pay

The size of the teacher's house

Many people have started to drink tea instead of coffee. There is more coffee than needed, how does this impact price?

The price for cofee will decrease, becuase there is too much coffee.

Mr. Jones borrowed $3,000 from his friend Jacob for some car repairs. he paid $3,500 back. Why did he pay more?

Mr. Jones had to pay Jake interest for borrowing money.

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Personal Financial Literacy

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Answers

1
The US imports cotton from India. A storm hit India and hurt their crops. What effect will this have on the price?
The US will pay less for the cotton, becuase there is moe cotton available.
The US will pay more for the cotton, becuase there is more cotton available
The US will pay less for cotton, since there is less cotton to buy.
The US will pay more for the cotton, becuase there is less cotton.
2
Valentina wants to buy new shoes. She is going to borrow money from her grandma with interest. What does this mean?
Valentina would have to pay back only the money borrowed.
Valentina wouldn't have to pay her grandma back.
Valentina will have to pay back all the money, plus some extra.
Valentina will have to pay back less money.
3
Mia will start a saving account while she is in 8th grade. Which is most likely NOT a reason she will need her savings?
Buying tickets to concerts and movies
Buying gas and food for college
Paying for college tuition and books
Buying a car
4
Which of the following positions at a hospital is most likely an unpaid position?
Volunteer
Doctor
Nurse
Lab technician
5
A real estate company is selling the house. Three families are interested. What will happen with the price?
The cost of the home will increase, because more than one family wants it.
The cost of the home will remain the same, because more people want it.
The cost of the house will increase, because the owner wants more money.
The cost of the home will decrease, becuase more than one familiy wants it.
6
K bought a brand new truck. The cost of the truck was $29,540, he will owe $35,654. Why does he have to pay more?
K has to pay income tax on the amount he borrowed.
K borrowed money from the bank and has to pay interest.
None of the above
K bought some accessories for the truck.
7
Terry works part time at a car wash. He works 20 hours after school and is paid each week. what statement is NOT true?
When Terry works more hours, he earns less income.
When Terry works fewer hours, he earns less income.
When Terry works more hours, he earns more income.
When Terry is not at work, he earns no income.
8
A school district pays its teachers. Which factor would most likely NOT affect the amount the school district pay
None of hte above
The size of the teacher's house
The number of years the teacher works
The level of education the teacher has
9
Many people have started to drink tea instead of coffee. There is more coffee than needed, how does this impact price?
The price for coffee will decrease, because there is not enough coffee.
The price for cofee will decrease, becuase there is too much coffee.
The price of coffee will increase, because there is too much coffee.
The price of coffee will increase, becuase there is not enough coffee.
10
Mr. Jones borrowed $3,000 from his friend Jacob for some car repairs. he paid $3,500 back. Why did he pay more?
Mr. Jones had to pay Jake interest for borrowing money.
Mr. Jones had to pay sales tax on the amount he borrowed.
Mr. Jones needed more money than he thought.
Mr. Jones made a guest at how much money he owed.

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