Economics Savings Quiz

The earning potential of money is known as its:

• Potential value

• Time value

• Future value

• Interest value

_____% of Americans have less than $1,000 saved for an emergency.

• 40

• 45

• 50

• 55

An investment's _____________ is its percentage of gain or loss over time.

• Total of return

• Rate of Return

• Sum of Return

• Rank of Return

Which is NOT a reason to save money?

• Emergencies

• Large purchases

• Build wealth

• Car Down Payment

_______________ is the average rate of growth for an investment over a period of time.

• Time Growth

• Compound Growth

• Community Growth

• Concealed Growth

The initial amount of money you deposit or invest is called the:

• Principal

• Interest

• Return

• Deposit

Which is NOT a question to determine if something is actually an emergency?

• Is it unexpected?

• Is it urgent?

• Is it necessary?

• Is it good value?

What two elements do you need to build wealth through growth?

• Inheritance and a lawyer

• Money invested and good stocks

• Money invested and time

• Time and a wealthy relative

The key to effective savings is:

• High income

• High credit score

• High self-discipline

• High rate of return

On "zero-percent" loans, companies often charge ____________ if you make a late payment or fail to pay off the loan before the deadline:

• Late fees

• Accrued interest

• Compound interest

• Interest rates