Question

Which would you most likely find a smaller amount of in a government budget than in a personal or household budget?

Answer 1

Which would you most likely find a smaller amount of in a government budget than in a personal or household budget?

The percentage of people affected by the budget who are responsible for making it

Lynn is at a store and wants to buy a new backpack that costs $55. She only has $35 with her, but she has the rest at home. Lynn also has a credit card that does not charge her any interest if she pays the balance in full by the end of the month. Why might Lynn want to wait until she has $55 in cash at the store to purchase the backpack, instead of using her credit card?

She might forget to pay the credit card bill, which would make her purchase more expensive due to interest payments and late charges.

Question 8(Multiple Choice Worth 3 points)

(American Money LO 7 MC)  

Which of the following is true about the U.S. federal government's ability to borrow money?

The federal government can put money back into the economy during times of economic hardship without raising taxes.

Question 10(Multiple Choice Worth 3 points)

(American Money LO 3 MC)  

In what way do mixed and market economies support the ideals of democracy?

Mixed and market economies protect individuals' ability to make their own economic decisions

Question 14(Multiple Choice Worth 3 points)

(American Money LO 4 MC)  

Carl decides to keep his money under his mattress instead of putting it in the bank. If everyone made the same decision as Carl, what might the impact be on the national economy?

It would hurt economic growth because banks often lend money to borrowers who then put that money back into circulation.

Question 15(Multiple Choice Worth 3 points)

(American Money LO 4 MC)  

Is a bank more likely to increase or decrease the amount of money in circulation?

A bank will increase the amount of money in circulation because it can help transfer money from people who want to save money to people who are going to spend it.

Question 16(Multiple Choice Worth 3 points)  

Imagine an economy without banks. Would it be more or less difficult for people to reach their financial goals?

More difficult, because it would be much harder for people to save money or obtain loans without banks.

Answer 2

Usually required to make a minimum deposit upfront. Depending on the bank and the type of account you’re opening this can be as little as $1. Aside from that, you don’t have to worry about any fees or additional charges