Test Bank for Focus on Personal Finance 12th Edition by Jack Kapoor, Les Dlabay, Robert J. Hughes & Melissa Hart
13 views 0 purchase
Course
AnswerKey
Institution
AnswerKey
Book
Loose Leaf for Personal Finance
Test Bank for Focus on Personal Finance 12th Edition by Jack Kapoor, Les Dlabay, Robert J. Hughes & Melissa Hart. Part 1: Planning Your Personal Finances Chapter 1: Personal Finance Basics and the Time Value of Money Appendix: The Time Value of Money? Chapter 2: Financial Aspects of Career Planning...
Test Bank for Focus on Personal Finance 12th Edition by Jack Kapoor, Les Dlabay, Robert J. Hughes & Melissa Hart Chapter 1-19
Test Bank for Focus on Personal Finance 12th Edition by Jack Kapoor, Les Dlabay, Robert J. Hughes & Melissa Hart
Test Bank for Focus on Personal Finance 12th Edition by Jack Kapoor, Les Dlabay, Robert J. Hughes & Melissa Hart
All for this textbook (31)
Written for
AnswerKey
All documents for this subject (642)
Seller
Follow
starlightt
Reviews received
Content preview
This Is A Test Bank Of Test (Study Questions) To Help You Prepare For the Tests
To Clarify, This Is A Test Bank, Not A Textbook You Have Immediate
Access To Download Your Test Bank.
No Delays In Loading Is Fast And Instant Immediately After Purchase! You Will
Receive A Full Bank Of Tests, In Other Words, All Chapters Will Be There.
Test Banks Are Presented In PDF Format Therefore, No Special Software
Is Required To Download Them
Test Bank for
Focus on Personal Finance 12th Edition by Jack Kapoor, Les Dlabay, Robert J. Hughes
& Melissa Hart ISBN-13 978-1259720680
Chapter 1-19 [Answers are at the End of Each Chapter]
Chapter 01 Testbank - Static
Student:
Increased demand for a product or service will usually result in lower prices for the item.
True False
Inflation reduces the buying power of the dollar.
True False
Lenders benefit more than borrowers in times of high inflation.
True False
Economics is the study of using money to achieve financial goals.
True False
,A decrease in the demand for a product or service may result in unemployment from staff reduction.
True False
Developing and using a budget is part of the "obtaining" component of financial planning.
True False
A financial plan is another name for a budget.
True False
Planning to buy a car is an example of an intangible goal.
True False
Opportunity costs refer to what a person gives up when making a choice.
True False
,Personal opportunity costs refer to time, effort, and health that are given up when a decision is made.True
False
Time value of money refers to changes in consumer spending when inflation occurs.True
False
Interest on savings is calculated by multiplying the principal amount times the opportunity cost times the annual
interest rate.
True False
Present value is also referred to as compounding. True
False
Opportunity costs may be viewed only in terms of financial resources.
True False
Gross Domestic Product (GDP) measures the total value of goods and services produced within a country's borders,
excluding items produced with foreign resources.
True False
Trade balance is defined as the difference between a country's exports and its imports.True
False
The main goal of personal financial planning is managing your money to:
save and invest for future needs.
reduce a person's tax liability.
achieve personal economic satisfaction.
spend to achieve financial objectives.
save, spend, and borrow based on current needs.
Higher prices are likely to result from:
lower demand by consumers.
increased production by business.
lower interest rates.
increased demand by consumers without increased supply.
an increase in the supply of a product.
, Who is most likely to benefit from inflation?
Retired people
Lenders
Borrowers
Low-income consumers
Government
Higher consumer prices are likely to be accompanied by:
lower union wages.
lower interest rates.
lower production costs.
higher interest rates.
higher exports.
With an inflation rate of 9 percent, prices would double in about years.
4
6
8
10
12
Higher interest rates can be caused by:
a lower money supply.
an increase in the money supply.
a decrease in consumer borrowing.
lower government spending.
increased saving and investing by consumers.
The risk premium you receive as a saver is based:
on your credit rating.
on the amount of money you are borrowing.
only on the uncertainty associated with getting your money back.
only on the expected rate of inflation.
in part on the uncertainty associated with getting your money back and the expected rate of inflation.
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller starlightt. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $17.98. You're not tied to anything after your purchase.
