|Name: _________________________||Period: ___________________|
This quiz consists of 5 multiple choice and 5 short answer questions through Chapter 5.
Multiple Choice Questions
1. Why do people buy more than they need?
(a) Survival instinct.
(b) To fight inflation.
(d) To donate to charity.
2. For Question 3 under what circumstance would one enter a minus sign on the chart?
(a) If monthly expenses exceed monthly income.
(b) If the expense category will most likely cease after retirement.
(c) If that expense category will most likely be reduced after retirement.
(d) If the expense category does not fit with values.
3. What is a possible advantage of switching to a lower-paying job?
(a) Ultimately earning more for each hour of life energy spent.
(b) More time available for continuing education.
(c) Less money available to spend.
(d) Less life energy spent equals a longer lifespan.
4. What is budgeting similar to?
(a) Reducing income.
(b) Filing taxes.
5. What do advertisements teach Americans?
(a) Relax, relax, and relax some more.
(b) Consume, consume, and comsume some more.
(c) Work, work, and work some more.
(d) Buy low, sell high.
Short Answer Questions
1. What should participants do if the answer to Question 2 is "no" for a particular item?
2. Question 1 is answered with a plus sign under what circumstance?
3. What items are included in everything owned?
4. What is the intrinsic value of money?
5. What is the best method of choosing which expenses to reduce or eliminate?
This section contains 340 words
(approx. 2 pages at 300 words per page)