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Personal Finance EOCT Domain Review
Terms in this set (15)
How can competition in a scarce labor market affect wages?
Wages will go up to attract workers to a firm and keep existing workers.
What happens to job opportunities when wages go up?
The quantity of labor demanded goes down.
What is the purpose of the Federal Deposit Income Corporation (FDIC)?
To make sure that customers do not lose money if banks fail.
What is a mortgage used to purchase?
What happens when you make a purchase on a credit card?
The credit card issuer pays the store.
What is money?
Money is both a medium of exchange that serves as a store of value, and is a unit of account.
The main advantage of diversification of an investment policy is that it...
Reduces risk to investors.
An accurate statement about bonds is...
They are usually a low-risk investment.
An example of equity is:
A share of stock.
All are low-risk investments except?
A stock that reinvests it's earnings instead of paying regular dividends is?
A growth stock.
Leslie wins $2000 in June and plans to pay her tuition bill in September because her main priority is...
Liquidity, because she'll need to use the money quickly
You lend your cousin $100 but you know he isn't trustworthy with money; what is this risk?
What does the equity of a tax mean?
That a tax is fairly assessed.
How is a Federal Income Tax a Progressive Tax?
The higher the income a person has, the higher they pay in tax.
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