Financial Basics Quiz

The total of all goods and services produced by a country

• Gross Domestic Product (GDP)

• Consumer Price Index (CPI)

• Money

• Utility

Amount of satisfaction received from purchasing something

• Gross Domestic Product (GDP)

• Consumer Price Index (CPI)

• Money

• Utility

Basic unit of exchange in transactions

• Gross Domestic Product (GDP)

• Consumer Price Index (CPI)

• Money

• Utility

Measure of inflation based on prices of goods and services

• Gross Domestic Product (GDP)

• Consumer Price Index (CPI)

• Money

• Utility

When the economy (Real GDP) falls

• Contraction

• Expansion

• Assets

• Wealth

When the economy (Real GDP) does well or grows

• Contraction

• Expansion

• Assets

• Wealth

The total value of all things owned by an individual

• Contraction

• Expansion

• Assets

• Wealth

Intangible items that are promised to make an individual money in the future

• Contraction

• Expansion

• Assets

• Wealth

Necessities, comforts, and luxuries enjoyed by an individual

• Standard of Living

• Financial Goal

• Average Propensity to Consume

• Inflation

Ratio one spends to saves

• Standard of Living

• Financial Goal

• Average Propensity to Consume

• Inflation