Budgeting and Being a Smart Consumer

Question 1

The Porter family used an online family budget estimator to compare the costs of living in Baltimore and San Francisco for a family with two parents and two children. Where is the cost of living higher?

Revolt · Accepted Answer

San Francisco

Question 2

The Porter family has a net income of $5,000. How much do they spend on housing per month?

Revolt · Accepted Answer

$1,500

Question 3

The Porter family has a net income of $5,000. If they want to reduce their food budget by $50, how much would the new food budget be? $

Revolt · Accepted Answer

1,200

Question 4

What is Mr. Porter’s net pay each month?

Revolt · Accepted Answer

$5,000

Question 5

Mr. Porter’s gross pay is $90,000 per year. He files taxes as head of a household, and his income tax percentage is 20%, so that is withheld from his paycheck. When he files his taxes, he owes $16,800 after deductions. Which of the following is true?

Revolt · Accepted Answer

Mr. Porter will get a refund of $1,200.

Question 6

The Porter family budget in the new city is shown in the graph. Of the seven expenses shown, which of the following is fixed?

Revolt · Accepted Answer

housing

Question 7

Which deal is the best?

Revolt · Accepted Answer

Store A

Budgeting and Being a Smart Consumer Answers

More from this Course

TRY EDGENUITY HACKS