Foundations in Personal Finance Middle School Edition Pre-Test/Post-Test
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| A liability can be described as | Something you owe; a debt
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| Which allows invested money to grow over time? | Compound Interest
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| A plan for spending is called a(n) | Budget
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| A fee that a bank, credit card company, or other lender charges for the opportunity to purchase something and pay for it over time. | Interest
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| The FICO score measures what? | Debt history, Types of debt, New debt
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| Non-wage compensation provided by your employer is known as | Employee benefits
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| The amount of money you get paid after taxes are taken out is called | take-home pay
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| Money taken out of your paycheck for taxes is called | Withholding
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| Represent small pieces of ownership in a company | Stocks
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| In which of the following should you keep your emergency fund | Money market account
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| The money you pay for an insurance policy is called you | Premium
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| Which of the following types of insurance would cover your costs associated with a car accident | Auto
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| An economic system based on the private ownership of business and the products made and sold is called a | Market economy
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| An economic system in which the government owns, controls, and regulates all aspects of production, trade, and income generated by the most valuable resources is called a | Command economy
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| A market economy is driven by the economic principle of | Supply and demand
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| The monetary value of all goods and services produced in a country in a year is called | Gross domestic product
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| The interaction between the various countries of the world is called | Globalization
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| What is an example of an economic incentive? | Online sales or discounts
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| Everything a company does to get consumers to buy their product is called | Marketing
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| A person who buys things is called a | Consumer
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