Financial Literacy Chapter 1 Test

Financial Literacy Chapter 1 Test

9th Grade

40 Qs

quiz-placeholder

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Financial Literacy Chapter 1 Test

Financial Literacy Chapter 1 Test

Assessment

Quiz

Business

9th Grade

Medium

Created by

Ryan Haines

Used 16+ times

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40 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Inflation reduces the buying power of the dollar.

True

False

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Opportunity costs refer to what a person gives up when making a choice.

True

False

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Personal opportunity costs refer to time, effort, and health that are given up when a decision is made.

True

False

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Sound financial goals should be broad with no time limit in order for you to achieve them.

True

False

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Opportunity costs may be viewed only in terms of financial resources.

True

False

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Increased consumer spending will usually cause:

lower consumer prices.

reduced employment levels.

lower wages.

lower interest rates.

higher employment levels.

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The stages in the family and financial needs of an adult are called the:

financial planning process.

budgeting procedure.

personal economic cycle.

adult life cycle.

tax planning process.

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