Exam (elaborations)
Wise Financial literacy (1)
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Wise Financial literacy (1)
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denicetho
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Wise Financial literacySources of Income - ANS-Wages, intest, income
Exemption - ANS-Reduce the amount of taxes
Liquidity - ANS-How easily something can be sold
Gift Cards - ANS-A closed and open loop system
Discretionary Income - ANS-Not allocated for food or shelter
Money orders - ANS-It is used like a check
Why US currency has value - ANS-There is a belief that money has a value and
therefore is accepted
Opportunity cost - ANS-What choice is given up
Who is hurt the most and least with inflation - ANS-Banks are most hurt and less hurt
are people who owe money
Role of Treasurey - ANS-Collect taxes, print taxes
Pay yourself first - ANS-Automatic fly route money from paycheck to savings
CD - ANS-A time deposit
Institutions that give loans - ANS-Banks, credit unions, pawnshops
Who charges the most for loans - ANS-Pawnshops, payday lenders
Why a credit union is good - ANS-Member owned co-operative financial institution that
has lower interest rates on loans
Overdraft protection - ANS-A feature offered by banks to prevent overdrafting
Compound intee - ANS-Interest earned on intrest
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