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Fool Proof Module 17 Review | 100% Correct Answers | Verified | Latest 2024 Version
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Which answer best defines "opportunity cost"? A What it costs to take advantage of a great savings opportunity. B The value of the things you have to give up to get something else. C The amount you have to pay to do something. D The amount a seller paid to sell you a product. - B The value of t...

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  • February 25, 2024
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  • 2023/2024
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Fool Proof Module 17 Review | 100% Correct
Answers | Verified | Latest 2024 Version
Which answer best defines "opportunity cost"?



A What it costs to take advantage of a great savings opportunity.

B The value of the things you have to give up to get something else.

C The amount you have to pay to do something.

D The amount a seller paid to sell you a product. - ✔✔B The value of the things you have to give up to
get something else.



Which of these are examples of opportunity cost?



A You skip buying new jeans and put the money in your college fund.



B You deposit your entire paycheck in your investment account instead of cashing it and taking your
buddies out to eat.



C You bring your lunch to your part-time job instead of spending $8 on lunch. You put the $8 in your
savings account.



D All of the above. - ✔✔D All of the above.



Which one of the following are examples of unnecessary debt?



A You buy an expensive new car rather than a perfectly good used car.



B You buy your groceries on Friday instead of coupon Monday.

, C You charge clothes you don't really need on a high-interest store credit card.



D Both A and C. - ✔✔D Both A and C.



If you are saving money to buy a house in eight years your "time horizon" is:



A Eight years.

B Seven years.

C Seven and a half years.

D Ten years because of house expenses. - ✔✔A Eight years.



What is "compound interest"?



A Interest that is accumulated over a period of time but only occurs in a passbook savings account.



B When you earn interest on the interest you have already made.



C When you earn interest on only the principal.



D When you earn interest on the difference between the principal and interest - ✔✔B When you earn
interest on the interest you have already made.



Why do many experts recommend longer "time horizons" if you are making high-risk investments?
Choose the most correct answer.



A If you have a longer time horizon you are capable of making more in interest in that time period.



B A longer period of time gives you the opportunity to learn more about investing.

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