AnswersGA-Introduction to Business and Technology AAssignment

Study Guide and Quiz Answers

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1
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A __________ is when you take money out of the bank.

A
Deposit
B
Transfer
C
Branch
D
Withdrawal
2
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If you want to compare two different investments, what should you calculate?

A
The compound interest
B
The ROI percentages
C
The ROI dollar amounts
D
The capital gain
3

What is most likely to happen if the Fed prints too much currency?

A
A decrease in product prices
B
A decrease in the number of banks
C
An increase in inflation
D
An increase in spending power
4

As a unit of measure, money makes it easier for consumers to do what?

A
Compare prices of different products.
B
Make a bigger profit from their income.
C
Have a better exchange rate with other currencies.
D
Get more unearned income.
5

If you want to take advantage of compound interest, what should you do when an investment produces interest?

A
Use the interest to pay your bills.
B
Reinvest the interest.
C
Put the interest in a savings account.
D
Put the interest in a checking account.
6

What is a minimum balance?

A
The process of balancing your checkbook register against your bank statement
B
The largest number of checks you can write in a month
C
The smallest withdrawal you can make from a bank account
D
The smallest amount of money you can keep in a bank account
7

What does an exchange rate tell you?

A
How many products have been exchanged between two different countries
B
The number of people in one country in comparison to another country
C
How much one unit of currency is worth when converted to another currency
D
The speed that people are buying a specific type of product
8

If you plan to take money out of the bank frequently, what type of account should you get?

A
A savings account
B
A checking account
C
An interest account
D
An investment account
9

Why can a bank afford to pay an interest rate on a savings account?

A
Because the bank is insured by the FDIC
B
Because the Fed prints more currency when needed
C
Because the bank puts the money into equity investments
D
Because the bank lends that money out at a higher interest rate
10

A good investment should do one or both of which two things?

A
Grow in value or produce income
B
Raise prices or increase demand
C
Avoid opportunity cost or increase volatility
D
Decrease diversification or decrease interest

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