
Economics Exam Review: Personal Finance
Authored by Amanda Tuite
Social Studies
11th - 12th Grade
Used 7+ times

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15 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Money deducted from your paycheck for things like Social Security and Medicare is an example of
Progressive Tax
Proportional Tax
Regressive Tax
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
When you purchase an insurance policy, you are sharing liability. What does this mean?
The cost is being shared by you and the insurance company
You are solely responsible for all costs
The insurance company is responsible for all costs
You and the insurance company are NOT liable for any costs
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Buying stock through mutual funds is less risky than buying individual stock because
You diversify risk by buying small pieces of many companies
Inflation is less likely to erode your investment
Investments are secured by the FDIC
Individual companies usually go bankrupt
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The higher the risk, the ___________ the reward.
Higher
Lower
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Plan A has a deductible of $5000 and Plan B has a deductible of $1000, which plan is likely to have higher premium payments?
Plan A
Plan B
They should be the same
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which group is most negatively impacted by a regressive tax?
High income earners
Low income earners
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
In voluntary exchange, why do people give something up?
to increase their self-sufficiency
to make a rational decision
to get something they want more
to allocate scarce resource fairly
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