ECON Final

Front

This type of card is linked to a checking account for everyday purchases

Back

Debit

Front

This type of card advances you money for purchases with a preset limit

Back

Credit

Front

Anything of value such as property, money, or belongings

Back

Asset

Front

A short term loan to the government with a fixed rate of return

Back

Bond

Answer explanation

Most commonly a savings bond or treasury bond

Front

The amount of money you earn before taxes

Back

Gross

Front

The amount of money you make after taxes; take home pay

Back

Net

Front

According to the Overflow Savings Strategy, how much should you have in your Savings Account at any given time? Options: $5,000, Enough to cover monthly bills, Enough to cover 6 months' worth of bills, All extra money you get...FOREVER!

Back

Enough to cover 6 months' worth of bills

Answer explanation

Savings Accounts are for emergencies and short term saving

Front

A share or portion of ownership in a company

Back

Stock

Answer explanation

Buying 100 shares of Apple stock means you own a small (very small) portion of the company

Front

Federal money awarded to college-bound students based on financial need

Back

Pell Grant

Front

Money earned on an investment or paid to a lender for the use of a loan

Back

Interest