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This test consists of 5 multiple choice questions, 5 short answer questions, and 10 short essay questions.

Multiple Choice Questions

1. Which of the following does the cultural perspective of money include?
(a) Life energy.
(b) Fear when investing.
(c) Fear of inflation.
(d) Buying insurance.

2. What two addictions are compared in Chapter 3?
(a) Alcoholism and smoking.
(b) Gambling and shopping.
(c) Overspending and gambling.
(d) Overeating and overspending.

3. How is a real hourly wage figured?
(a) Divide real pay by real hours worked.
(b) Divide real pay by actual hours worked.
(c) Divide real hours worked by work expenses.
(d) Divide real hours worked by real pay.

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

5. What does Question 1 help people figure out?
(a) How to choose a new career.
(b) How to eliminate debt.
(c) How they could increase or decrease spending to feel more fulfilled.
(d) How to increase income.

Short Answer Questions

1. Why should clothing be broken down into smaller categories, such as informal, work, sports, etc.?

2. Why do many people give up on their dreams?

3. What have many people been told by parents and guidance counselors?

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

5. Why are vacations considered to be a work expense?

Short Essay Questions

1. For Step 4, what is the second question program participants should ask, regarding every expense on their chart? What is required, before answering this question?

2. Why does the result from the first part of Step 2 sometimes prompt participants to seek a lower-paying job?

3. How do the authors compare budgeting with dieting?

4. What are some examples of recreational expense categories?

5. What perspective of money do the authors endorse? Why?

6. Compare a person's typical response to a long-term threat with the typical response to an immediate threat.

7. How should program participants use the charts at the end of Chapter 3?

8. What are some problems associated with "business as usual?"

9. What is the final part of Step 3? How is this accomplished?

10. What are the three perspectives of money the authors ask program participants to reject? Include brief descriptions.

(see the answer keys)

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