Project #1447 - Economics questions

1. What are four ways that using credit can cost you money.

2. What is the difference between Short-term and Installment credit?

3. Which type of savings is protected by the FDIC (Federal Deposit Insurance Corporation) and is a safe, short-term investment?

A) 

B
C
D

4. Which type of savings are held by banks for a short-term and savers are not able to withdraw the funds until the time is up without paying fees?

A
B
C
D

 

5. Which type of savings are not protected by the FDIC, not held by a bank, and have a higher rate of return than most other types of savings accounts.

A
B
C
D
 
 
 
 
 
6. What type of savings are held by the bank and generally have a higher rate of interest than a regular savings account?
A
B
C
D
 
 
 
7. Explain how taxes can limited productivity and hinder growth in the market.

 

8. Other than federal income taxes, list four additional ways that the federal government gains revenue.

 

9. Tammy has a savings account which earns 4% SIMPLE interest. She deposits $500 on January 1st. How much interest does she earn in: (you will have two answers here)Year #1Year #2

 

10. Mike deposits $1,000.00 in a savings account which earns COMPOUND interest at 4%. How much interest will he have earned after: (you will have two answers for this question)Year #1Year #2

 

11. Which of the following does NOT have to be disclosed under the Truth in Savings Law?

A
B
C
D
 
 
12. Using the Rule of 72 calculate how many years it would take to double your money with the following information:Interest rate of 6%
 
13. Using the Rule of 72 calculate the interest rate you would need to earn if you wanted to double your money in 20 years.
 
14. If you were to buy a government bond with a face value of $100.00, you would actually pay $50.00 for it. Answer these questions:A. What is it called when you can turn that bond back in for face value? In other words, you can get your $ back when the bond ________.B. How much will you receive if you turn the bond back in as soon as it reaches the point you answered in part A.

15. Which is true about stocks (select as many answers as apply)

A
B
C
D
E
F
 
 
16. Explain how retirement plans work, how they can benefit someone in paying taxes, and how penalities can be applied to the money invested in the plan.
 
17. There are four things that money must have in order for it to work. What are these four things?
 
18. There are five components of money being a good medium of exchange. What are the five components?

 

Subject Business
Due By (Pacific Time) 12/04/2012 04:00 pm
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