Final

Question 1

What are some factors when choosing a job?

Answer 1

Travel, ammount of vacation time, 401k matching, health care dental care.

Question 2

What are the Main sources of Income?

Answer 2

Wages, tips and salaries

Question 3

Do corporations have to pay income tax?

Answer 3

Yes after expenses are paid

Question 4

Do corporations/ compaines pay state income taxes

Answer 4

Yes but every state is different NY is high while Nevada is low

Question 5

What would a CEO take into account with state income taxes

Answer 5

What state you locate the company

Question 6

What is Progressive taxes

Answer 6

what america currently has, taxes increase as payers icome increases.

Question 7

Regressive taxes

Answer 7

tax rate decreases as tax payers income increases

Question 8

How do you be a smart shopper?

Answer 8

You should consider price, preferences, do you really need it, income, oppurtuinty cost, does it fit budget, if expensive shop around to find a good price (car washing machine)

Question 9

What are warranties?

Answer 9

normally get for more expensive items, it gurantees the purchaser by the manufacture promising to repair or replace if neccessary within the warranty.

Question 10

Do decisions you make effect others?

Answer 10

Obviously (say you came to work) costs might be waking up early but benefits would be making money and providing for the family

Question 11

What are ways to express price?

Answer 11

advertise the price in smaller amounts, smaller amounts over a period of time is easier to manage.

Question 12

Government regulating and incentives

Answer 12

Consumer protection lasws require more speciffically whn it comes to packaging of food items. (weight, ingredients, nutritonal guidelines, packaging needs safety.)

Question 13

Are there taxes on saving accounts

Answer 13

yes you have to pay taxes on saving accounts

Question 14

Why should you put your money in a bank?

Answer 14

your money is insured and getting some interest is better than none.

Question 15

What are some options for investing

Answer 15

money markets, Certificate of deposite.
CD lock for 6 months- year less liquid
Saving account has more liquid

Question 16

What is liquid

Answer 16

the ability and ease with which assets can be converted into cash.

Question 17

What insures the banks

Answer 17

FDIC and they insure up to 250,000

Question 18

What does the Federal Reserve do?

Answer 18

raises or decreases the interest rate, raises or lowers the reserve requirements, issues bonds, in time on inflation the increase rates

Question 19

Are banks good for long term investement growth

Answer 19

No they are not but a stock marekts are they have better gorwth over longer periods of time.

Question 20

What do you do if you arent reaching finacial goals?

Answer 20

You work more or ask for a raise

Question 21

How do companies know if they can expand and purchase capital items

Answer 21

do cost analysis to detrmine if they should expand.

Question 22

What are things to look at when choosing a credit card`

Answer 22

the annual fee, what interest rate you have to pay APR, is there a low introductory rate.

Question 23

How does your finanical status factor into what credit card to get?

Answer 23

Why do banks offer a low introductory rate, why do some have an annual fee, is there card holder benefits, and do they start out with a small line of credit.

Question 24

What is a credit score

Answer 24

a 3 digit number that shows how reliable and likely you are to pay finacial obligations on time

Question 25

Why followers your credit score?

Answer 25

future employeer, insurance companies and credit card companies

Question 26

to have a good score you should

Answer 26

pay your premiums and debts

Question 27

how often do you check your credit score

Answer 27

once a year

Question 28

what is a good score

Answer 28

above a 740

Question 29

If you cant pay your bills what do you do?

Answer 29

you can file bankrupcy (+ money owed is removed and fresh start - 10 yrs on credit report and hard to get loans)

Question 30

What is inflaton

Answer 30

its the price of goods and services increasing in value over time

Question 31

whos affected by inflation the most

Answer 31

people with a fixed income

Question 32

liability insurance

Answer 32

loss to other people

Question 33

personal property

Answer 33

loss of insured person

Question 34

what are deductables

Answer 34

amount you have to pay out of pocket for expenses before insurance.

Question 35

What is co insurance

Answer 35

bill - deductable and co insurance is 10%, 200-50= 150(.10)=15, 50+15=65 paid

Question 36

whos responsible for purchasing insurance for personal items in your apartments

Answer 36

you are but if there is more than 1 person livng in the apartment each renter is responsible for there own insurance

Question 37

how to avoid identity theft

Answer 37

keep information secure and dont carry around social security number, if there is a problem contact policd and credit card company.

Question 38

Why do some give to charity

Answer 38

they receive tax breaks

Question 39

What is deducted from paycheck

Answer 39

fedral income tax, social security, medicare

Question 40

what is gross pay and net pay

Answer 40

net pay is the take home amount net and gross pay is the amount before all the deductions.