Hace 3100 Test 3

Front 1

trans fat

Back 1

made when manufacturers add hydrogen to vegetable oil in a process known as hydrogenation

Front 2

nutrition

Back 2

science of food and nutrients and their actions within the body

Front 3

Factors influencing food and drink choices:

Back 3

-personal preference and taste
-habit
-background, ethnicity, heritage, and history
-convenience, availability, and location
-emotions
-values
-cost
-body image
-nutrition and health benefits
-innovation and marketing

Front 4

MyPyramid Plan

Back 4

USDA guide to helping to choose the foods and amounts that are right for different age groups and physical activity levels

Front 5

organically grown foods

Back 5

crops grown and processed according to USDA regulations

Front 6

genetic engineering

Back 6

the use of biotechnology to modify the genetic material of living cells so that they will produce new substances or perform new functions

Front 7

biotechnology

Back 7

use of biological systems or organisms to create or modify products

Front 8

additives

Back 8

substances added to food either intentionally or by accident

Front 9

presevatives

Back 9

antimicrobial agents, antioxidants, and other additives that retard spoilage or maintain desired qualities

Front 10

delaney clause

Back 10

clause in the Food Additive Amendment to the Food, Drug, and Cosmetic Act - states that no substance that is known to cause cancer in animals or human beings at any dose level shall be added to foods

Front 11

GRAS list

Back 11

"generally recognized as safe"

Front 12

calories

Back 12

units by which energy is measured

Front 13

food allergy

Back 13

a bodily reaction to a substance that is more sever than food intolerances such as lactose intolerance or reactions to food coloring or MSG

Front 14

boycott

Back 14

group decision to avoid purchasing a product or doing business with a company

Front 15

end of aisle displays

Back 15

may feature products at a higher cost than similar products placed other places

Front 16

tie ins

Back 16

where complementary products are placed side by side with one price jacked up to compensate for the "loss leader" -a very low priced advertised special to bring shoppers in

Front 17

loss leader

Back 17

very low priced advertised special to bring shoppers in

Front 18

unit pricing

Back 18

presentation of price information on shelves on a common basis such as per ounce

Front 19

open dating

Back 19

placing a date on perishable products that indicates when the product should be sold or consumed

Front 20

pull date

Back 20

last day the product should be sold

Front 21

expiration date

Back 21

the last day the consumer should use the product

Front 22

quality assurance date

Back 22

the last day when the product is at its peak

Front 23

pack date

Back 23

when the product was packaged or manufactured

Front 24

radio frequency identification (RFID)

Back 24

puts a tiny chip in products that allows for the automatic tracking of products

Front 25

structure-function claims

Back 25

claims that are made about products by their producers and that are not regulated by the FDA

Front 26

wellness

Back 26

ability to live life fully with optimal health and vitality, encompassing physical, emotional, intellectual, spiritual, interpersonal, social, and environmental well-being

Front 27

well-being

Back 27

state of being healthy, happy, or prosperous

Front 28

principal

Back 28

consumer of health care services

Front 29

agent

Back 29

provider of health care

Front 30

consumer health

Back 30

umbrella term encompassing the decisions that consumers make about health care, including products and services that they buy that their insurance covers, and the decisions they make about their lifestyle that affect health care needs

Front 31

quacks

Back 31

unscrupulous individuals specializing in medical or health swindlers

Front 32

junk science

Back 32

there is little or no evidence or proof to support claims

Front 33

science

Back 33

systemized knowledge that is the object of study

Front 34

scientific literacy

Back 34

the promotion of science education in the schools and in the community

Front 35

generic drug

Back 35

lower-cost copy of a brand name drug that becomes available after the brand name product's patent expires, typically after 15 years or more

Front 36

medicare

Back 36

federal health insurance program for people age 65 or older and for many people with disabilities

Front 37

drugs

Back 37

any chemical other than food intended to affect the structure or function of the body

Front 38

lack of efficacy

Back 38

the pill or treatment fails to produce the desired effect or outcome

Front 39

biologics

Back 39

vaccines, blood and blood derivatives, allergenic patch tests and extracts, tests to detect HIV and hepatitis, gene therapy products, cells ad tissues for transplantation, and new treatments for cancers and arthritis

Front 40

aspirational products

Back 40

products that consumers aspire to own

Front 41

cues

Back 41

ads, signs, packaging, and other stimuli

Front 42

consumer unit

Back 42

members of a household related by blood, marriage, adoption, or other legal arrangement

Front 43

security deposit

Back 43

payment required by the landlord in advance to cover wear and tear of the unity and to secure a unit for the renter

Front 44

mortgages

Back 44

loans to purchase real estate in which the real estate serves as collateral, are what remains after the down payment is subtracted from the purchase price

Front 45

PITI

Back 45

principal, interest, taxes, and insurance

Front 46

net worth

Back 46

assets minus liabilities

Front 47

assets

Back 47

what is owned

Front 48

liabilities

Back 48

what is owed

Front 49

Freddie Mac

Back 49

a stockholder-owned corporation dedicated to increasing the supply of money that lenders can make available to home buyers and multifamily investors

Front 50

homeowner's fees

Back 50

monthly maintenance or repair fees for common areas collected from owners of town houses or condos

Front 51

cooperative apartments

Back 51

you own shares in the building as a whole and have the right to lease a certain unit - commonly in New York and Boston

Front 52

manufactured housing

Back 52

includes units that are fully or partially assembled in a factory and moved to the living site

Front 53

defect-disclosure forms

Back 53

describe the condition of the home (used at closing)

Front 54

predatory lending

Back 54

lures people into loans they really can't afford - usually borrowing against their home's equity or the equity of a relative's home

Front 55

redlining

Back 55

prohibited by law, refers to the practice of drawing a red line or any other color around an area and marking that area as not receiving the same treatment as other areas regarding financing

Front 56

leasing

Back 56

contractual agreement with terms concerning the monthly payment, security deposit, and condition of the vehicle on return

Front 57

invoice price

Back 57

manufacturer's initial charge to the dealer - what the car cost the dealer

Front 58

sticker price or suggested retail price

Back 58

price of the car, including options, transportation charges, and any "market adjustments"

Front 59

lemon laws

Back 59

allow owners of new vehicles that repeatedly break down t get their money back or get the car replaced

Front 60

revocation of acceptance

Back 60

procedure to get money back or to replace the car using lemon laws

Front 61

high-balling

Back 61

means that a high amount is offered for a trade-in, but the extra amount is made up in an increased new car price

Front 62

low-balling

Back 62

refers to a very low price being quoted, but there are add-on costs at the end that drive the final price up

Front 63

nexting

Back 63

when people buy or attain something, their minds are already thinking of the next purchase or goal

Front 64

personal finance

Back 64

spending, saving, investing, and protects of financial resources

Front 65

values

Back 65

principles that guide behavior

Front 66

attitudes

Back 66

likes and dislikes

Front 67

resources

Back 67

source of wealth

Front 68

decision making

Back 68

process of making a choice between two or more alternatives

Front 69

3 steps in the personal finance process

Back 69

1. setting financial goals and creating plans
2. activating plans
3. evaluating and revising plans: going forward

Front 70

fixed expenses vs. variable expenses

Back 70

rent vs. food & entertainment

Front 71

emergency fund

Back 71

three to six months of salary set aside as savings is recommended as a financial goal

Front 72

Truth in Savings Act

Back 72

requires financial institutions to reveal the annual percentage yield (the amount of interest earned on a yearly basis expressed as a percentage), fees charged, and info about rules regarding maintaining a minimum balance

Front 73

excise tax

Back 73

collected from the manufacturer of a product

Front 74

deductions

Back 74

expenses subtracted from income before figuring out the amount of taxes owed

Front 75

tax avoidance

Back 75

legal money management strategy to reduce one's taxes through such investments as tax-deferred individual retirement accounts or charitable donations, which are allowed under the tax code and should be properly documented

Front 76

tax evasion

Back 76

illegal- not paying taxes or not reporting all income

Front 77

time deposit

Back 77

usually safe ways to store money from seven days to several years

Front 78

financial planner

Back 78

looks at a person's or a family's total financial picture, helps that person or family define and prioritize goals, and then works out a plan to achieve those goals

Front 79

certified divorce planner

Back 79

specialist who is trained to focus on who gets the assets in divorces and who works alongside attorneys who handle legal documents and child custody issues

Front 80

interest

Back 80

cost of using money

Front 81

credit cards

Back 81

used to purchase something or to get cash now with the promise of future payment

Front 82

loans

Back 82

sums of money lent at interest

Front 83

cosigner

Back 83

agrees to repay the loan if the borrow does not

Front 84

collateral

Back 84

property such as a car, recreational vehicle, or boat used to secure a loan

Front 85

liens

Back 85

legal rights to take and hold property if the person with the loan does not pay up

Front 86

consumer reporting agencies (CRAs)

Back 86

also known as credit bureaus - have files that contain info about your income, debt, and credit payment history as well as information on whether you have been sued or arrested or have filed for bankruptcy

Front 87

FICO

Back 87

credit score used by most lenders and the one you have to pay to see

Front 88

self-worth

Back 88

system of thoughts and feelings concerning or focused on self

Front 89

bankruptcy

Back 89

form of legal recourse open to insolvent debtors

Front 90

chapter 7 bankruptcy

Back 90

"straight liquidation chapter" because in return for eliminating debts, the debtor agrees to turn over nonexempt assets and pay as much as possible to creditors

Front 91

chapter 13 bankruptcy

Back 91

allows debtors to repay some of the debt they owe, and in return they get to keep most of their property- usually this person has a steady income

Front 92

right to health and safety

Back 92

implied right from the landlord that the unit is fit to live in

Front 93

right to privacy

Back 93

landlord may enter in case of emergency or with advanced notice for inspections and repairs (usually with a 24 hour notice)

Front 94

right to security

Back 94

locks on exterior doors, window latches on exterior windows, re-keyed locks on exterior doors before new tenant moves in

Front 95

renter's insurance

Back 95

covers your personal property in the event of theft, loss, or destruction

Front 96

housing options

Back 96

-single family detached
-condominium
-duplex
-town house
-cooperative
-manufactured home

Front 97

Fair Housing Act

Back 97

prohibits discrimination on the basis of:
-race or color
-religion
-sex
-national origin
-familial status
-disability

Front 98

national home ownership rate

Back 98

69%

Front 99

main reason for growth of home ownership rate

Back 99

New Mortgage Products and credit guidelines opened the market to populations that previously would not have qualified to buy a house

Front 100

what can you afford to buy?

Back 100

-2.5X your annual gross income
-house payment should be no more than 28% of your monthly household gross income
-house+debt payments should be no more than 36% of your monthly household gross income

Front 101

unaffordable vs. critical burden

Back 101

30% of income spent on housing vs. 50% spent on housing

Front 102

down payment

Back 102

3% to 20% of the selling price of the home

Front 103

fixed rate mortgages and time

Back 103

15 year mortgage: less interest, bigger payments
30 year mortgage: more overall, less monthly payments

Front 104

New Mortgage Products

Back 104

100% financing, stated income, interest only, adjustable rate mortgages

Front 105

subprime mortgage loans

Back 105

loans given to households with poor credit history; almost always have a higher than average interest rate

Front 106

growth of subprime market

Back 106

grew from $210 billion in 2001 to $625 billion in 2005; 13.5% were subprime in 2009, 2.7% in 2000

Front 107

Types of Predatory lending

Back 107

-lender charges excessive interest rates to people with excellent credit
-"loan targeting" loans that target a specific population or group of people
-lender continually encourages you to refinance, thus incurring additional fees
-lender requires credit life insurance on the loan

Front 108

Equation for Equity

Back 108

[Current market value of a home] - [outstanding mortgage balance]

Front 109

life-change points affecting housing consumption

Back 109

-getting married
-involved in a committed relationship
-having children
-children leaving home
-retiring

Front 110

base price

Back 110

cost of car including standard equipment and factory warranty

Front 111

dealer sticker price

Back 111

dealer installed options, and dealer markup

Front 112

monroney sticker price on side window

Back 112

base price + manufactured installed options, fuel economy and transportation charge

Front 113

advantages of used cars

Back 113

avoid some of the depreciation of a new car - sometimes up to 40%; afford more options and luxury items

Front 114

disadvantages of used cars

Back 114

-maintenance free years of a car is mostly within the first 2 years
-can have serious hidden defects with limited or no warranty coverage

Front 115

Buyer's Inspection Checklist

Back 115

use this to inspect a car you're interested in if you reach a price standoff

Front 116

Types of Automobile Lease

Back 116

1. Closed-end leases or walk-away leases
-normally offer a purchase option
-require the dealer to be responsible for resale
-account for about 80% of all leases
2. Open-end leases
-compare the fair market value to the lease's residual value of the vehicle
-are to be avoided because you pay the difference

Front 117

gross capitalized cost

Back 117

the price of the car for leasing purposes

Front 118

capitalized cost reduction

Back 118

amount of cash down payment, trade-in or rebate

Front 119

residual value

Back 119

value of automobile at the end of the lease; often expressed as a percentage of the Manufacturer's Suggested Retail Price (MSRP)

Front 120

rent charge

Back 120

an amount paid by the leasee that may include interest, overhead and profit

Front 121

How loans are divided

Back 121

1. reason for loan
2. repayment schedule

Front 122

341 meeting

Back 122

"First Meeting of Creditors"

Front 123

FDA

Back 123

-all domestic and imported food except for meat and poultry
-bottled water
-wine (less than 7% alcohol)

Front 124

USDA

Back 124

-all domestic and important meat and poultry products containing these foods
-processed egg products

Front 125

6 classes of nutrients

Back 125

1. carbs
2. lipids
3. water
4. minerals
5. proteins
6. vitamins

Front 126

average annual spending on food

Back 126

$5,781 per consumer unit
$3, 832 per person per year
$73.69 a week per person

Front 127

# of Americans living in deep or severe poverty

Back 127

16 million, 32 year high

Front 128

EBT cards

Back 128

Electronic Benefits Transfer cards used as food stamps

Front 129

functional foods

Back 129

foods that have some kind of drugs added, such as margarine, which contains a substance that helps lower cholesterol

Front 130

founding year, founder, and owner of McDonald's

Back 130

1940 - McDonald brothers - Ray Kroc

Front 131

food irradiation

Back 131

using gamma rays, X-rays or high-voltage electronics to kill potentially harmful substances in foods, such as bacteria

Front 132

percentage of GDP spent on health care

Back 132

17.5%

Front 133

GDP equation

Back 133

=consumption + gross investment + government spending + (exports - imports)

Front 134

medicare

Back 134

-covers 40 million Americans
-costs taxpayers 12 billion a year due to fraud

Front 135

poverty rate in Athens

Back 135

35.2%; 1/8 of Americans living in poverty

Front 136

46.6 million Americans uninsured; 60 million at some point in time

Back 136

insurance and SS - started in 1935

Front 137

premium for a family of 4

Back 137

$13,375 a year

Front 138

first offer on buying a car

Back 138

15-20% BELOW what you are willing to pay - second offer should split the first and the total of what you are willing to pay - not what split your first offer and what the dealer is offering