Final

Currency values increase during periods of ____.

• deflation

• inflation

• recession

• stagnation

Inflation can have a negative effect on ____.

• spending

• saving

• building wealth

• borrowing

The rate of inflation is measured using the ____.

• Gross Domestic Product

• Consumer Price Index

• Unemployment Rate

• Interest Rate

An opportunity cost is what you give up by choosing ____.

• the same option

• no option

• one option over another

• all options

Withdrawals from a regular IRA are ____.

• tax-free

• taxed

• penalty-free

• not allowed

An annuity is a type of investment for which deposits are made in ____.

• decreasing payments over time

• increasing payments over time

• lump sum payments

• irregular payments

Money is a tool which makes trading ____.

• easier

• easier when bartering does not exist

• harder

• harder than bartering

Minimum wage is ____.

• only required when working 40 hours a week

• at least 1.5 times the normal hourly rate

• what most employers are required to pay employees

• the same as overtime pay

Overtime pay is required for working ____.

• more than 40 hours in a week

• on weekends

• after 10:00 p.m.

• All of the above

A salary ____.

• can only be paid monthly

• can only be paid monthly or semimonthly

• is fixed compensation for a person’s work

• is the same as hourly pay, but can include commission