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Econ Quiz

QuestionAnswer
Define Saving The non-use of income for a period of time so that it can be used later
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.
Interest Is the payment people receive when they lend money
Passbook Account (PSA) Book which deposits, withdrawls and interest are recorded
Statement Savings Account (SAA) Savings account where you receive a statement each moth showing every transaction. -Low interest and no minimum balance
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
Certificates of deposit (CD) Requires a minimum balance and an alloted for when you can actually take out money.
Maturity Period of time one must leave their money in an account which can vary from 7 to 8 years.
F.D.I.C Federal Deposit insurance corporation
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
Define Stock Buying stock means becoming a part owner of a corporation, and entitles the buyer to future profits and assets.
Define Dividends the money returned to a stockholder on the amount he/she originally invested in the company
Bond A certificate a company or gov't issues in exchange for borrowed money.
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.
Savings bonds Buyer pays half the face value and the bond increases in value every 6 months until its full face value is met.
Treasury Bills a minimum of $10,000 in investments and can mature between 3 months to a year.
Treasury notes maturity date of 2 to 10 years
Treasury Bonds mature in 10+ years.
NYSE New York Stick Exchange-largest stock market
AMEX American stock exchange-also in NY
NASDAQ National Association of Securities dealers automated quotations.-national market system
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.
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
Mutual Fund Investment company that pools the money of many individuals to buy stocks, bonds or other investments.
Created by: rachyrach25
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