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

Multiple Choice Questions

1. What causes emptiness?
(a) Losing a job.
(b) After spending time with family, the temporary happiness fades.
(c) Spending too much time on leisure activities.
(d) After buying a new item, the temporary happiness fades.

2. What is budgeting similar to?
(a) Dieting.
(b) Reducing income.
(c) Mathematics.
(d) Filing taxes.

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

4. On average, what do Americans have less of than ever before?
(a) Education.
(b) Children.
(c) Savings.
(d) Debt.

5. Which perspective is the notion of "keeping up with the neighbors" part of?
(a) Personal responsibility and transformation.
(b) Step 2.
(c) Emotional and psychological.
(d) Inflation.

Short Answer Questions

1. What three columns should record-keeping include?

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

3. The charts shown in the book for single people and couples are meant to be used how?

4. How is a real hourly wage figured?

5. Why are small, specific categories recommended over traditional, broad categories?

(see the answer key)

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