|Name: _________________________||Period: ___________________|
This test consists of 15 multiple choice questions and 5 short answer questions.
Multiple Choice Questions
1. What is the intrinsic value of money?
(b) Money has no intrinsic value.
(c) Emotional and psychological.
(d) Real hourly wage.
2. What can help people determine what they value?
(a) What items they possess.
(b) Assessing their careers.
(c) Studying family history.
(d) Asking how they would spend their time if they had one year to live.
3. What are dreams good clues to?
(a) Values, purpose, and life mission.
(b) Hours slept per night.
(c) Employment options.
(d) The future.
4. Some people reach the top of their profession and make good money, yet are still not what?
5. What does the amount spent divided by real hourly wage equal?
(a) The real amount of life energy spent.
(b) Total allowable expenses.
(c) Money saved at the end of the month.
(d) Net worth.
6. Why should clothing be broken down into smaller categories, such as informal, work, sports, etc.?
(a) To encourage donations of older clothes to charity.
(b) To encourage participation in sports.
(c) To allow for a greater volume of work-related purchases.
(d) To avoid purchases that are worn only once.
7. What are "gazingus pins?"
(a) Clips to attach spending charts to refrigerators or bulletin boards.
(b) Any items the reader has an unreasonable amount of, due to habitual shopping.
(c) Pins to attach to a spending chart to indicate unnecessary expenses.
(d) Larger-than-standard pins.
8. What is the second half of Step 2?
(a) Saving as much money as possible.
(b) Selling unnecessary luxuries.
(c) Looking for a better job.
(d) Keeping meticulous track of every cent that comes in or goes out.
9. What should be included in the "miscellaneous" category?
(a) Gazingus pins.
(b) Items under $10.
(c) Items purchased less than once a month.
10. According to many Americans, what is considered a sin?
(a) Buying low, selling high.
(b) Just sitting around and enjoying life.
(c) Working too much.
(d) Spending too much.
11. What should participants do if the answer to Question 2 is "no" for a particular item?
(a) Either change actions to align with values or change values to align with actions.
(b) Find a new career path.
(c) Find a new life purpose.
(d) Donate the item to charity.
12. What have many people been told by parents and guidance counselors?
(a) That they can be anything they want to be.
(b) Money is more important than happiness.
(c) That the job market is tight.
(d) Employment security is more important than happiness.
13. What does Chapter 4 help people to figure out?
(a) What is fulfilling for them.
(b) How to increase income.
(c) How to reduce expenses.
(d) How to save life energy.
14. How is a real hourly wage figured?
(a) Divide real pay by actual hours worked.
(b) Divide real hours worked by work expenses.
(c) Divide real hours worked by real pay.
(d) Divide real pay by real hours worked.
15. What do advertisements teach Americans?
(a) Buy low, sell high.
(b) Consume, consume, and comsume some more.
(c) Work, work, and work some more.
(d) Relax, relax, and relax some more.
Short Answer Questions
1. What is the final part of Step 3?
2. What are bare necessities, as defined in Chapter 1?
3. People should spend only until they are fulfilled, just as they should do what?
4. What is one of the main economic principles most businesses follow?
5. For Question 1, what should be written in the chart if just enough was spent on an item?
This section contains 598 words
(approx. 2 pages at 300 words per page)