UNIT FIVE Text Questions
1. In a progressive tax system the people who earn more pay more taxes. In a regressive
everyone pays the same.
2. Gross income is the starting point for determining Federal and state income tax of
UNIT FOUR Text Questions
1. A brokerage firm, or simply brokerage, is a financial institution that facilitates the buying
and selling of financial securities between a buyer and a seller.
2. Depository institution is a financial instituti
UNIT ONE Lab Questions
The four categories are Food and Drinks, Transportation, Clothing, and Entertainment. I
think that clothing makes up most of my expenses because i get more clothes most
recently than most, considering i stopped growin
UNIT ONE Text Questions
1. A barter system is an old method of exchange. Th is system has been used for centuries and long
before money was invented. People exchanged services and goods for other services and goods in
2. Demand re
UNIT TWO Text Questions
1. A. Neutral fiscal policy is usually undertaken when an economy is in equilibrium. Government
spending is fully funded by tax revenue and overall the budget outcome has a neutral effect on the
level of economic a
UNIT FOUR Lab Questions
1. Average debt for 22 - 29 year olds: $16,120
2. Needs: Home, Clothes, Food, Job, Transportation, Insurance, and Future Savings.
Wants: Earrings, Brand new shoes vs Your Shoes Last year, Shopping at an expensive
store vs using cou
UNIT THREE Text Questions
1. Inflation risk is the price of an item may rise or fall after or before the purchase.
2. They are things you give up when you make a choice. Sleeping less to work on
homework- you are giving up sleep to work o
UNIT SIX Lab Questions
1. The dam broke which caused flooding. Only 5 out of 26,000 people's houses werent
2. So you know what youre getting yourself into. So you know what youre insured for.
3. Two Scottish ministers, in 1744. It was invented fo
UNIT SIX Text Questions
1. A deductible is the amount of money that the policy holder will pay before the insurance
company will pay on an insured loss. With a deductible, you are responsible for paying a
certain amount before the insurance company
UNIT FIVE Lab Questions
1. Why are cars a bad investment?
Because they devalue in price really fast.
2. What are some of the ways that you can save money when buying a car?
You can buy a used car.
3. What is emergency money? Why would someone need emergen
UNIT SEVEN Lab Questions
Immediately begin to develop a personal financial plan
They have to learn the difference between, needs and wants. If they get what they want
then theyll be left without money to get what they need.
UNIT THREE Lab Questions
1. I chose Pat the plastic surgeon. I chose her because I know that doctors make a lot of
money and she would be very smart. Pro: High Income, Steady Money, High Demand
Job Con: Possibly Get Sued, Always Busy, Not Much Free Time.
UNIT SEVEN Text Questions
1. Municipal bonds are debt securities issued by state or local governments to pay For
ongoing products such as roads, schools, and airports.
2. Asset allocation is when someone invests in a variety oF places to reduce the
UNIT TWO Lab Questions
1. People have to financially decide whether they can afford what they want and still get
what they need and usually they end up running short on money and cant get the
want. Personally I dont have this problem often.
2. The amount
UNIT EIGHT Text Questions
1. A closed-end credit is a one-time loan that you pay back over time in payments of equal
2. Open-end are loans made on a revolving basis with the repayment period not set. Its
also known as revolving credit.