Topic
Q:
One major drawback to filing for bankruptcy is that a person who files for
bankruptcy:
A. has to pay higher fees on existing debt.
B. may not be able to get loans in the future.
C. continues paying interest on all borrowed money.
D. could be sent to prison for failing to pay off debts.
Q:
A college student wants to buy a new guitar. Unfortunately, she doesn't have
enough money to pay for it all at once. She'd like to pay for it in small
installments over a few months.
Which type of loan would most help solve her problem?
A. A mortgage
B. A line of credit
C. A credit card
D. A student loar
Q:
People who consistently make late payments on a loan or credit card are
likely to experience which consequence?
A. Employers will be forced to fire them from their jobs.
B. Banks will charge them more interest on future loans.
C. Airlines will not permit them to travel outside the country.
D. Courts will sentence them to time in jail or prison.
Q:
Which skill is part of financial literacy?
A. Comparing microeconomics to macroeconomics
B. Understanding the value of retirement savings
C. Differentiating imports from exports
D. Calculating the national deficit
Q:
Life insurance coverage would be most important to a person who:
A. recently bought a new sports car.
B. has a family that depends on her income.
C. lives near a river that often floods.
D. owns an apartment building in a big city.
Q:
Which living expense would most likely be considered nonessential on a
household budget?
A. Mortgage payment
B. Movie tickets
C. Groceries
D. Insurance
Q:
The value of the U.S. dollar compared to the currencies of major U.S. trading
partners is known as the:
A. inflation-adjusted value of the U.S. dollar.
B. trade-weighted value of the U.S. dollar.
C. free-market value of the U.S. dollar.
D. global-reserve value of the U.S. dollar.
Q:
A Japanese traveler in England is having trouble purchasing anything
because she has only Japanese currency. In order to buy the things she
wants, she has to have her Japanese yen traded in for pounds, the British
currency.
Which economic measure would be most helpful to the traveler in this
situation?
A. Exchange rate
B. Export rate
C. Interest rate
D. Inflation rate
Q:
A quota is a trade barrier that:
A. prevents trade with a single country.
B. limits the imports from a country.
C. imposes taxes on imported goods.
D. sets quality requirements on imports.
Q:
Which situation would most likely cause a currency with a flexible exchange
rate to decrease in value?
A. Interest rate increases
B. Unemployment rate decreases
C. Inflation increases
D. Gross domestic product increases
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