home assignments in Chapter 20

home assignments in Chapter 20 - 1 Saving equals A current...

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1. Saving equals: A. current spending minus current income. B. wealth minus assets. C. assets minus liabilities. D. current income minus spending on current needs. 2. The saving rate equals saving divided by: A. wealth. B. assets. C. liabilities. D. income. 3. Pat earns $1,000 per week and spends $850 per week on living expenses, puts $50 in a savings account, and buys $100 worth of shares in a stock mutual fund. Pat's saving is ____ and Pat's saving rate is _____. A. $50; 5% B. $50; 5.9% C. $100; 10% D. $150; 15% 4. Wealth equals: A. current income minus spending on current needs. B. assets minus liabilities. C. saving minus investment. D. investment minus saving. 5. Assets are: A. current income minus spending on current needs. B. stocks, bonds, and credit card balances. C. saving minus investment. D. anything of value one owns. 1
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6. Which of the following is an asset of a family? A. student loan B. mortgage C. unpaid credit card balance D. checking account balance 7. Which of the following is a liability of a family?
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home assignments in Chapter 20 - 1 Saving equals A current...

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