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

Multiple Choice Questions

1. Under which category does money paid to employ servants and service workers fall?
(a) Keeping up with the neighbors.
(b) More is better.
(c) Work-related expense.
(d) Cultural.

2. What have many people been told by parents and guidance counselors?
(a) Money is more important than happiness.
(b) Employment security is more important than happiness.
(c) That the job market is tight.
(d) That they can be anything they want to be.

3. What items are included in everything owned?
(a) Add together everything owned, then subtract everything owed.
(b) All items purchased during a lifetime.
(c) All items in the garage and basement.
(d) Estimated current sale price of all items currently owned, plus other assets such as cash and investments.

4. The charts shown in the book for single people and couples are meant to be used how?
(a) As inspiration.
(b) As tax records.
(c) As a family budget.
(d) As strict guides.

5. Why should clothing be broken down into smaller categories, such as informal, work, sports, etc.?
(a) To allow for a greater volume of work-related purchases.
(b) To encourage participation in sports.
(c) To avoid purchases that are worn only once.
(d) To encourage donations of older clothes to charity.

Short Answer Questions

1. On average, what do Americans have more of than ever before?

2. According to many Americans, what is considered a sin?

3. Which perspective is the notion of "keeping up with the neighbors" part of?

4. What is a possible advantage of switching to a lower-paying job?

5. Which perspective of money should readers embrace?

(see the answer key)

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