Econ Quiz
Quiz yourself by thinking what should be in
each of the black spaces below before clicking
on it to display the answer.
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| Define Saving | The non-use of income for a period of time so that it can be used later
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| Define how saving benefits the economy as a whole | Saving provides money for others to invest or spend. Additional saving allows business to expand which provides increased income for consumers and raises the standard of living.
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| Interest | Is the payment people receive when they lend money
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| Passbook Account (PSA) | Book which deposits, withdrawls and interest are recorded
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| Statement Savings Account (SAA) | Savings account where you receive a statement each moth showing every transaction. -Low interest and no minimum balance
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| Money Market Deposit Account (MMA) | Account that pays high amounts of interest and allows immediate access to money. -high interest but requires a minimum balance
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| Certificates of deposit (CD) | Requires a minimum balance and an alloted for when you can actually take out money.
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| Maturity | Period of time one must leave their money in an account which can vary from 7 to 8 years.
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| F.D.I.C | Federal Deposit insurance corporation
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| What determines the rate of interest on a time deposit? | the length of the maturity, the longer the money is untouched the higher the interest
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| Define Stock | Buying stock means becoming a part owner of a corporation, and entitles the buyer to future profits and assets.
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| Define Dividends | the money returned to a stockholder on the amount he/she originally invested in the company
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| Bond | A certificate a company or gov't issues in exchange for borrowed money.
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| tax-exempt bonds | the interest is not taxed by the federal gov't. good investment for wealthy people who would usually pay high taxes through other investments.
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| Savings bonds | Buyer pays half the face value and the bond increases in value every 6 months until its full face value is met.
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| Treasury Bills | a minimum of $10,000 in investments and can mature between 3 months to a year.
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| Treasury notes | maturity date of 2 to 10 years
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| Treasury Bonds | mature in 10+ years.
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| NYSE | New York Stick Exchange-largest stock market
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| AMEX | American stock exchange-also in NY
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| NASDAQ | National Association of Securities dealers automated quotations.-national market system
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| Over the counter market is.. | aren't traded in any specific place; Brokerage firms hold quantities of shares of stock that they buy and sell for investors.
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| Capital Gains and Losses | The price a stock holder sells a share will determine whether it is a gain or a loss. selling for more than you buy would be a gain where selling for less than you bought it for would be a loss.-duhh
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| Mutual Fund | Investment company that pools the money of many individuals to buy stocks, bonds or other investments.
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