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This quiz consists of 5 multiple choice and 5 short answer questions through Chapter 4.

Multiple Choice Questions

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

2. 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 donations of older clothes to charity.
(c) To avoid purchases that are worn only once.
(d) To encourage participation in sports.

3. What does Chapter 4 help people to figure out?
(a) How to save life energy.
(b) What is fulfilling for them.
(c) How to reduce expenses.
(d) How to increase income.

4. Why are expensive convenience foods considered to be a work expense?
(a) Unemployed people cannot afford convenience foods.
(b) Convenience foods promote life energy.
(c) People are too tired after work to make dinner.
(d) Factories employ people to produce convenience foods.

5. According to many Americans, what is considered a sin?
(a) Just sitting around and enjoying life.
(b) Buying low, selling high.
(c) Spending too much.
(d) Working too much.

Short Answer Questions

1. What is budgeting similar to?

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

3. What determines mastery of Step 3?

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

5. What is the key to good spending habits?

(see the answer key)

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