Test Bank for Focus on Personal Finance 12th Edition by Jack Kapoor, Les Dlabay, Robert J. Hughes & Melissa Hart
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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
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
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This Is A Test Bank Of Test (Study Questions) To Help You Prepare For the Tests
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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.
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