TEKS.MATH.7.13B

Expenses that stay the same every month are _________ expenses. Rent would be an example.

• fixed
• discretionary 
• variable
• intermittent

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TEKS.MATH.7.13B

The circle graph below shows the percentages of a family budget used for different monthly expenses.
Which statement is supported by the data in the graph?

• The amount of money budgeted for utilities and gasoline combined is less than the amount budgeted for the mortgage.
• The amount of money budgeted for the mortgage is half the amount budgeted for clothes.
• The amount of money budgeted for groceries and clothes combined is twice the amount budgeted for utilities.
• The amount of money budgeted for gasoline and clothes combined is greater than the amount budgeted for groceries.

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TEKS.MATH.7.13B

The mortgage payment and the car payment are examples of which of the following?

• variable expenses
• assets
• zero-based budgeting
• fixed expenses

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TEKS.MATH.7.13B

What two things does a budget compare?

• Income and Expenses
• Savings and Interest
• Income and Investments
• Expenses and Expenditures

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TEKS.MATH.7.13B

If the Talbot family's income is $3,200 what percent of their budget is spent on medical expenses?

• 15%
• .15%
• 150%
• 100%

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TEKS.MATH.7.13B

Phoebe earns $900 a month. The table shows her monthly budget. Which statement is supported by the information in the table?

• Phoebe spends 10% of her monthly budget on clothes.

• Phoebe spends less than 15% of her monthly budget on her cell phone bill.

• Phoebe uses more than 20% of her monthly budget for college savings.

• Phoebe uses more than 50% of her monthly budget on her car payment and food.

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TEKS.MATH.7.13B

Ryan would like to save 15% of his take-home pay towards retirement. How much should he save each month if he makes $5,000 each month?

• $750

• $75,000

• $1125

• $75

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TEKS.MATH.7.13B

If transportation costs include a car payment and gas, and Ryan's car payment is $350 and he pays $100 for gas, what percentage is Ryan paying for transportation costs each month if his take home pay is $9,000?

• 5 %

• 3.8 %

• 1.1 %

• 28 %

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TEKS.MATH.7.13B

True or False: Income can either come from wages (hourly earnings) or Salary (monthly or yearly earnings).

• True

• False

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TEKS.MATH.7.13B

The monthly budget for a two-adult family living in El Paso, TX is shown.

Both adults in the family work and earn the same amount in wages. Which equation can be used to determine x, the minimum amount each adult must earn to meet the requirements of this budget for one year?

• x = 4,405 • 12

• $x=\frac{4,405\ \cdot2}{12}$

• x = 4,405 • 12 • 2

• $x=\frac{4,405\ \cdot\ 12}{2}$

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TEKS.MATH.7.13B