CIA 3: SSEPF 3, 6, 4, 2, 5

Front

What role does money serve as a medium of exchange?

Back

It allows for the direct exchange of goods and services without the need for barter.

Front

How does money function as a store of value?

Back

It maintains its value over time, allowing people to save.

Front

What is the purpose of money being a unit of account?

Back

It allows for the comparison of the value of different goods and services.

Front

Which financial institution typically offers the highest interest rates on SAVINGS?

Back

Credit Unions

Front

What is a key difference between banks and credit unions?

Back

Credit unions typically offer higher interest rates on deposits than banks.

Front

What term describes selling an asset for more than its original purchase price?

Back

Capital Gains

Front

Which of the following always represents a regressive tax? Federal Income tax, Sales Tax, FICA Tax, Property Tax

Back

Sales Tax

Front

How many credit bureaus monitor your credit rating?

Back

There are 3 agencies.

Front

Which of the following is considered "revolving" credit? mortgage, personal loan, Car loan, credit card

Back

credit card

Front

What is interest?

Back

Interest is the cost of borrowing money or the return on invested capital over time.