|Name: _________________________||Period: ___________________|
This test consists of 15 multiple choice questions and 5 short answer questions.
Multiple Choice Questions
1. What are "gazingus pins?"
(a) Pins to attach to a spending chart to indicate unnecessary expenses.
(b) Any items the reader has an unreasonable amount of, due to habitual shopping.
(c) Clips to attach spending charts to refrigerators or bulletin boards.
(d) Larger-than-standard pins.
2. According to many Americans, what is considered a sin?
(a) Buying low, selling high.
(b) Spending too much.
(c) Just sitting around and enjoying life.
(d) Working too much.
3. In Question 2, what must participants ask if each expenditure is in alignment with?
(a) Their values and life purpose.
(b) Hours spent at work.
(c) Statistical norms.
(d) Family needs.
4. Why should readers not use premade categories from other budget books?
(a) Some categories may be out of date.
(b) Other budget books are inferior.
(c) Everyone has different spending habits.
(d) Some categories are difficult to track.
5. For Question 1, what should be written in the chart if just enough was spent on an item?
(a) A plus.
(b) A check.
(c) A zero.
(d) A minus.
6. Attitude toward buying groceries is part of which perspective of money?
(a) Life energy.
(d) Emotional and psychological.
7. What have many people been told by parents and guidance counselors?
(a) Employment security is more important than happiness.
(b) Money is more important than happiness.
(c) That the job market is tight.
(d) That they can be anything they want to be.
8. Where do values come from?
(a) Bargain hunting.
(c) Working harder.
(d) Saving money.
9. Why are expensive convenience foods considered to be a work expense?
(a) Factories employ people to produce convenience foods.
(b) Unemployed people cannot afford convenience foods.
(c) People are too tired after work to make dinner.
(d) Convenience foods promote life energy.
10. People strive to buy and earn more than they need to live at the peak of their fulfillment curve due to which perspective of money?
(a) Intrinsic value.
(b) Emotional and psychological.
11. What will eventually run out?
(a) Job growth.
(b) Social Security.
(c) The earth's resources.
(d) Time and money.
12. Why do people buy more than they need?
(a) To fight inflation.
(c) To donate to charity.
(d) Survival instinct.
13. Earning, saving, and spending money are part of which perspective?
(c) Emotional and psychological.
(d) Life energy.
14. What causes people to believe that "growth is good" and "more is better?"
(a) Emotional and psychological perspective of money.
(b) Fear of inflation, recession, and depression.
(c) Personal responsibility.
(d) Intrinsic value of money.
15. What is the real amount of life energy?
(a) The number of years remaining in an average lifetime.
(b) The real number of hours of life used to make purchases.
(c) Number of hours worked minus number of hours at leisure.
(d) Total energy spent per week.
Short Answer Questions
1. How is net worth determined?
2. What is the intrinsic value of money?
3. What is the final part of Step 3?
4. What is one of the main economic principles most businesses follow?
5. What does Question 1 help people figure out?
This section contains 559 words
(approx. 2 pages at 300 words per page)