Semester 1 Exam Review pt. 2

A popular savings rule of thumb in which 50% of your income goes towards necessities, 20% goes towards saving and debt repayment, and 30% goes towards flexible spending is also known as:

• 50/30/20 Rule

• 50/50 Rule

• Budgeting Rule

• 50/20/30 Rule

Tags

CCSS.6.RP.A.3C

Reinvesting earned interest back into the principal to allow money to grow exponentially over time:

• Simple Interest

• Compound Interest

• Interest

• Principal

Inflation caused by an increase in production costs, but demand is the same:

• Demand-Pull Inflation

• Inflation

• Monetary Inflation

• Cost-Push Inflation

Inflation caused by an increase in demand, but supply is the same:

• Demand-Pull Inflation

• Inflation

• Monetary Inflation

• Cost-Push Inflation

The government agency that insures customer deposits if a bank fails up to $250,000 per individual depositor:

• Roth IRA

• Federal Deposit Insurance Corp

• Money Market Saving Account

• National Credit Union Administration

An account in which you can save pre-tax dollars to pay for out-of-pocket health care expenses:

• Roth IRA

• Money Market Saving Account

• Health Savings Account

• Certificate of Deposit

The rate at which the price of goods increases and consumer purchasing power decreases over time:

• Demand-Pull Inflation

• Monetary Inflation

• Cost-Push Inflation

• Inflation

The amount you earn as a benefit of depositing money in an interest bearing account:

• Interest

• Compound Interest

• Simple Interest

• Principal

Using most or all of your monthly income to cover your monthly expenses, leaving little to no spare cash for saving or investing:

• Budgeting

• Living Paycheck to Paycheck

• Inflation

• Principal

Inflation caused by growth in the economy's money supply:

• Monetary Inflation

• Inflation

• Cost-Push Inflation

• Demand-Pull Inflation