Personal Finance

Generic products are usually more expensive that brand name products.

• True
• False

Comparison shopping helps consumers make informed decisions.

• True
• False

Disposable income is income that people spend on things they don’t really need. 

• True
• False

Durable goods are defined as goods that last more than 10 years.

• True
• False 

People diversify their investments by investing in several different kinds of investments. 

• True
• False

Some consumers prefer generic products over brand-name products because

• They are less expensive
• Their quality is better
• They are more widely available
• They come with warranties

According to the graph, which of the following expenses would be included in the highest consumer spending category?

• Movie tickets
• A new jacket
• Gas for your car
• Apartment rent

According to the graph, how much more do Americans consumers spend on transportation than they spend on food?  

• a.  12%
• b.  19%
• c.  7% 
• d.  6%

A financial intuition that is owned and operated by members to provide savings accounts and low interest loans is a

• Savings and loan
• Credit union
• Commercial bank
• Savings bank

Suppose you are male and you are thinking about quitting high school before you graduate. Based on the averages in the table, about how much lower will your income be than if you decided to finish high school? 

•  a.  $5,517
• b.  $11,251
• c.  $8,433
• d.  $14,155