Final Practice

Which of the following is deducted from take home pay?

• Federal income tax

• Property tax

• Sales tax

• Excise tax

How often can you check your credit score from a single credit reporting agency for free?

• Once a year

• Three times a year

• As many times as you need

• None

What is not a type of asset that you can use for everyday purchases?

• Debit card

• Cash

• Credit card

• Certificate of Deposit

What is the most likely source of income for young adults?

• Salaries and wages

• Rentals

• Dividends

• Business profits

What is NOT part of the business cycle?

• Surplus

• Peak

• Decline

• Growth

What option is liquid enough for an emergency savings account?

• Certificate of Deposit

• Brokerage Account

• Savings Account

• Money Market

What is a characteristic of banks?

• Safer than credit unions

• Not for profit

• Owned by employees

• Insured by the Federal Depository Insurance Corporation

What usually has the highest percentage growth over time?

• Stocks

• Bonds

• Savings

• Certificate of Deposit

What best relates to supply?

• What producers are willing and able to produce at any given price.

• What consumers are willing and able to buy.

• How much of something can be made

• What people will buy

Who uses monetary policy?

• The FED

• The FDIC

• The Congress

• The Banks