Financial Literacy Test (STAAR)

Bryn works for restaurant. The restaurant pays her every week for the work she does. Some weeks she works more hours than other weeks. Which statement is most likely true?

• When Bryn works fewer hours, she earns more income from the restaurant.

• When Bryn works more hours, she earns more income from the restaurant.

• When Bryn works more hours, the restaurant gets less labor from her.

• When Bryn works fewer hours, the restaurant gets more labor from her.

A city pays each police officer for the work the police officer does. Which factor would most likely not affect the amount of money this city pays a police officer?

• The size of the police officer's family

• The number of years the police officer has worked for the city

• The special skills that the police officer has

• The level of education that the police officer has

Ms. Hyde borrowed $6,000 from a bank to pay for some home repairs. She paid $7,500 back to the bank. Which of these is the most likely reason Ms. Hyde paid the bank more than the amount she borrowed?

• She made a mistake in calculating the amount she needed to pay back.

• She actually needed more than $6,000 for the home repairs.

• She had to pay interest on the amount of money she borrowed.

• She had to pay sales tax on the amount of money she borrowed.

Crew is describing his labor and income. Which statement could be a description of both labor and income for Crew?

• Crew does volunteer work at a hospital.

• Crew pays a company to repair his roof.

• Crew takes $25 out of his bank account and spends the money at a store.

• Crew takes dogs for a walk after school and earns $25.

Ms. Jakes works for a company. Which factor would most likely affect the amount of money Ms. Jakes gets paid by the company?

• The amount of money Ms. Jakes has to pay in bills

• The size of Ms. Jakes' family

• The amount of money Ms. Jakes saves every month

• The work experience Ms. Jakes has

Bad weather destroyed most of the peaches on the peach trees in an orchard. This will have an effect on the price of the remaining peaches. Which statement best describes the effect on the price?

• The price will likely increase, because there are more peaches available to buy.

• The price will likely decrease, because there are more peaches available to buy.

• The price will likely increase, because there are fewer peaches available to buy.

• The price will likely decrease, because there are fewer peaches available to buy.

Which of the following is a smart reason to save money for the future?

• to help pay for college in the future

• for a large purchase such as a home

• for an emergency such as a busted pipe

• all of these

Match the following

• the work that you

• labor

• how long you have done a job

• income

• money you earn from doing work

• skills

• things that you are good at

• work experience

Match the following

• to use money to buy things you need or want

• spend

• to put away money for the future

• donate

• to give away money to help others

• save

There are less oranges at the store. The price will ​ (a)  

• increase.

• decrease.