Money Management II

Paying yourself first simply involves building up a retirement account, creating an emergency fund or saving for other long-term goals.

• True

• False

What percentage of Americans have no savings at all?

• 57

• 100

• 39

• 50

Without savings, many people report experiencing a large amount of happiness.

• True

• False

Financial advisors recommend measures such as downsizing to reduce bills to free up some money for vacations.

• True

• False

_____ something that serves as a medium of exchange, a unit of accounting, and a store of value.

• Silver

• Gold

• Barter System

• Money

Merchants agree to accept money in exchange for their _____; employees agree to accept money in exchange for their _____.

• goods, labor

• supply, demand

• money, labor

• labor, money

What are the Four Types of Money?

• Commodity

• Commerical Bank

• Fiduciary

• Fiat

• Federal

What are characteristics of money?

• Durability

• Portability

• Dependability

• Limited in Supply

• Uniformity

What are examples of Commercial Bank Money?

• Grants

• Business Loans

• Auto Loans

• Personal Loans

Which is NOT an example of Fiduciary Money?

• Checks

• Cash

• Money Orders

• Bank Notes