PFLE Exam review

When you buy a ​ (a)   you are making a loan to a government or business. When you buy a ​ (b)   you are buying a small part of that corporation.

• Bond
• Stock
• 401 K
• Savings account
• Roth IRA

Claudia earns $2,000 for working over the summer. After Federal and state taxes, social security, and Medicare are deducted, her take home pay was $934.32. The $2,000 is her ​ (a)   pay, and the $934.32 is her ​ (b)   pay.

• gross
• net
• tax
• surcharge

What is one role of the Federal Open Market Committee at the Federal Reserve?

• To give advise only.

• To make the majority of policy decisions.

• To hire bank employees.

• To recommend people for political office.

Lower prices and a greater variety of goods are a benefit of which economic system?

• Communism.

• Socialism

• Free-market

• Fascism

The United States providing incentives to businesses to reduce waste is trying to obtain which of its economic goals?

• Economic Growth

• Economic Stability

• Economic Freedom

• Economic Efficiency.

A ​ (a)   in consumer income will decrease demand.

• decrease
• increase
• fluctuation

You can prevent Identity theft by....

• Checking your bank statements.

• Using your social security number as your TikTok name.

• Throwing away bills without shredding them.

• Giving your personal information out to the IRS after they send you a text.

Between 1931 and 1935, 3.9 million Ukrainians starved to death under which economic system?

• Capitalism

• Socialism

• Communism

• Fascism

Match the following

• Adam Smith

• Father of Communism

• Milton Friedman

• Father of Capitalism

• Karl Marx

• Famous American Economist

Between 2.5 million to 3.5 million North Koreans have starved to death under which economic system?

• Capitalism

• Socialism

• Communism

• Fascism