Wse financial literacy - Study guides, Class notes & Summaries

W!SE Financial Literacy Practice Test-with 100% verified solutions-posted in 2023

Which of the following does the Federal Reserve use to regulate the nation's money supply? C: Monetary policy - ANSWER The Federal Reserve uses monetary policy to regulate the nation's money supply. Monetary policy is directed at expanding or contracting the supply of money and credit in the U.S. economy. In theory, if there is too little money in circulation, consumers will spend less, interest rates will be high, and unemployment will rise. In this situation, the Fed can deliberately i...

W!SE Financial Literacy Certification Test Review

W!SE Financial Literacy Certification Test Topic Checklist

W!SE Financial Literacy Test

Liquidity - ANSWER The ability to convert an asset to cash quickly Products that are liquid - ANSWER Stocks and Money Market accounts Gift Cards - ANSWER a card that is given as a gift with a specified amount of money. There is a monthly inactivity fee that may begin after 12 months. Discretionary income - ANSWER The amount of an individuals income that is left for spending investing or saving after taxes and personal necessities

sources of income - wages, stocks, interest, salary exemption - a deduction allowing to reduce the amount of your income that would be taxed liquidity - access to money fast discretionary income - extra money you can use for anything money orders - bought @ bank; if you don't trust the lender of money Why does US currency have value - because we agree it does opportunity cost - the loss of potential gain of other alternatives when one alternative is chosen...

Which of the following does the Federal Reserve use to regulate the nation's money supply? - Monetary policy The denominations of coins in the United States are: - $.01, $.05, $.10, $.25, $.50, and $1.00 The primary sources of income for most people between the ages of 20 and 35 who are not living on a pension or social security are: - Salaries, wages, and tips Which of the following provides an increase in assets or wealth? - Having capital gains Nora needed to make a l...

assets - money and other valuables belonging to an individual or business, e.g a car, a house, stocks/retirement, antiques, collectibles stuff that you OWN opportunity cost - Cost of the next best alternative use of money, time, or resources when one choice is made rather than another Sources of Income - wages, rentals (real estate), interest, capital, profits, investments, entrepreneurship Exemption (aka an allowance) and how does it work - allowance is used to reduce amoun...

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