Exam (elaborations)
Wise Financial literacy with 100% correct answers
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Wise Financial literacy
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WiseFinancial
literacy
Sources
of
Income
-
ANS-W ages,
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,
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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