WorksheetsMoney Matters Review
Total questions: 21
Worksheet time: 17mins
Name one thing a financially literate person does.
Which type of inflation is determined by the increase in the cost of production?
Demand-Pull
Cost-Push
Hyperinflation
Stagflation
This type of inflation occurs when the economy fails to grow, but prices continue to rise.
Stagflation
Hyperinflation
Cost-Push Inflation
Demand-Pull Inflation
The account that holds money between the buyer and the seller until the transaction goes through is called....
Equity
Jumbo Loan
Escrow
Appraisal
The most important factors to consider when buying a car....
If it meets your transportation needs and is in your budget
If the car comes with all-wheel drive
the make and model
great gas mileage
You should be transparent about your wages to your co-workers to ensure equal pay for everyone.
TRUE
FALSE
My car was $20k when I bought it. Now it is worth $13k. What is this concept called?
Appreciation
Depreciation
Equity
Inflation
What is a "want" in terms of budgeting?
Something you need to survive
Something you would like to have but don't need
Money
A type of expense
What is a "need" in terms of budgeting?
Something you would like to have but don't need
An unnecessary expense
Something essential for living
A luxury item
What are examples of Utilities? (Choose all that apply)
Property Taxes
Water
Electricity
Natural Gas
What is a security deposit?
When renting a home, you pay this before you move in and get it back when you move out
You pay this to make sure your house is safe
it's the same as earnest money
a tip you pay the security guard in a gated community
Should we talk to our co-workers about how much we are getting paid?
NO, people will be mad at you if they find out they are getting paid less.
YES- This USED TO be taboo, but now it is acceptable and encouraged to ensure fair and equal pay.
It depends on where you work.
You should not because it is illegal.
When Tico bought his house he got it for $300k. He already paid $100k. His house also appreciated, it is worth $350k now. How much is his equity?
$300k
$100k
$150k
$350k
Which of these is an example of credit?
A car loan
A credit card account
A mortgage
All of the above
What type of car would be best if I lived up in the mountains with a lot of snow and ice?
a coupe
a sedan
an SUV
a wagon
The price of homes went up a couple of years ago because people from other states were moving to Texas and willing to pay ABOVE asking price. Many people were trying to buy a house but there were not that many houses available. What type of inflation could this be considered as?
hyperinflation
demand-pull inflation
cost-push inflation
stagflation
The price of couches went up because the materials they use to make them got more expensive. The wages also increased. What type of inflation is this?
demand-pull
cost-push
stagflation
hyperinflation
In Venezuela the average cost of a loaf of bread went from $1,400 up to $7,500 - this is caused by the money supply increasing. The prices have been going up rapidly. What type of inflation is this?
hyperinflation
stagflation
demand-pull
cost-push
What is one key characteristic of cost-push inflation?
Prices rise even when demand falls or stays the same
the prices rise uncontrollably and rapidly
prices rise because of high demand
cost-push inflation is caused by the reduction of value of money.
What is a deductible?
The money you pay before financing a car
The money you pay after a car accident and then insurance pays the rest of the cost to repair the damage.
A discount they give you when you have good credit.
the amount borrowed
