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

Multiple Choice Questions

1. What is the final part of Step 3?
(a) Choosing expenses to eliminate.
(b) Determining net worth.
(c) Figuring out how much life energy went into each expenditure.
(d) Figuring out how much life energy remains.

2. What does the amount spent divided by real hourly wage equal?
(a) Money saved at the end of the month.
(b) The real amount of life energy spent.
(c) Total allowable expenses.
(d) Net worth.

3. What are comforts, as defined in Chapter 1?
(a) Emotional support.
(b) Pillows and mattresses.
(c) Employment and financial security.
(d) Things people really enjoy.

4. Which of the following does the emotional and psychological perspective of money include?
(a) Fear of unemployment.
(b) The tendency to spend quickly or cautiously.
(c) Personal responsibility.
(d) Using credit cards.

5. Why should readers not use premade categories from other budget books?
(a) Everyone has different spending habits.
(b) Some categories are difficult to track.
(c) Other budget books are inferior.
(d) Some categories may be out of date.

Short Answer Questions

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

2. What broad category are alcohol and tobacco subcategories of?

3. What is the second half of Step 2?

4. What is the first half of Step 2?

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

(see the answer key)

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