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This quiz consists of 5 multiple choice and 5 short answer questions through Chapter 3.

Multiple Choice Questions

1. Earning, saving, and spending money are part of which perspective?
(a) Physical.
(b) Emotional and psychological.
(c) Life energy.
(d) Inflation.

2. What must a person do to become financially independent?
(a) Let go of everything they have learned about money.
(b) Inherit from rich relatives.
(c) Work harder.
(d) Save as much as possible.

3. People should spend only until they are fulfilled, just as they should do what?
(a) Work only until they feel fulfilled.
(b) Gamble within a preset limit.
(c) Eat only until they are full.
(d) Drink in moderation.

4. Why are small, specific categories recommended over traditional, broad categories?
(a) Specific categories are easier to place on a chart.
(b) Broad categories cost more life energy.
(c) Broad categories work only for high-income individuals.
(d) Smaller categories allow people to determine which purchases bring only temporary happiness.

5. What are bare necessities, as defined in Chapter 1?
(a) Food and water.
(b) All items needed to meet basic physical needs.
(c) A house and car.
(d) Everything owned by an individual.

Short Answer Questions

1. How often should people total their income and expenses?

2. What is one of the main economic principles most businesses follow?

3. What causes people to believe that "growth is good" and "more is better?"

4. Under which category does money paid to employ servants and service workers fall?

5. What is the second half of Step 2?

(see the answer key)

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