Chapter 1: Personal Finace Planning in Action
Quiz yourself by thinking what should be in
each of the black spaces below before clicking
on it to display the answer.
Help!
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| Attitudes | Opinions and psychological differences between people
that affect their decisions.
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| Consumer Price Index (CPI) | A U.S. government index that tracks prices of a representative basket of goods and services.
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| Economic cycle | A pattern of ups and downs experienced by the U.S.
economy.
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| Expansion | Periods characterized by increased business investment
and employment opportunities.
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| Federal Reserve Bank | The central bank that controls the money supply in
the United States.
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| Federal funds rate | The rate banks charge each other for short-term loans.
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| Inflation | The change in general price levels over time.
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| Interest rate | A cost of money, expressed as a percentage.
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| Marginal reasoning | A strategy that takes into account the change in outcome
or additional benefit resulting from a decision.
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| Opportunity cost | What you have to give up in order to do something.
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| Personal finance | A specialized area of study that focuses on individual
and household financial decisions, such as budgeting,
saving, spending, insurance, and investments.
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| Personal financial planning | The process of developing and implementing an integrated, comprehensive plan designed to meet
financial goals, to improve financial well-being, and
to prepare for financial emergencies.
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| Recession | A low point in the business cycle.
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| Sensitivity analysis | Consideration of how an outcome changes with
changes in other variables.
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| Values | Fundamental beliefs about what is important in life.
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Review the information in the table. When you are ready to quiz yourself you can hide individual columns or the entire table. Then you can click on the empty cells to reveal the answer. Try to recall what will be displayed before clicking the empty cell.
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To hide a column, click on the column name.
To hide the entire table, click on the "Hide All" button.
You may also shuffle the rows of the table by clicking on the "Shuffle" button.
Or sort by any of the columns using the down arrow next to any column heading.
If you know all the data on any row, you can temporarily remove it by tapping the trash can to the right of the row.
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