Family Economic Development Final Gsu

Front 1

Social security is an ______ program. The more you put in to it, the more you will receive at retirement.

Back 1

Entitlement

Front 2

Predicting what the economy will be is known as _______.

Back 2

Forecasting

Front 3

The number one life time objective is to ________________.

Back 3

Minimize earnings and wealth

Front 4

The 3 most important economic factors is to invest, save and _______________.

Back 4

Reduce current consumption

Front 5

A steady rise in the general level of prices occurs when there is more money and credit than goods and services available. This is referred to as ________.

Back 5

Inflation

Front 6

What you want in life is referred to as your:

Back 6

Standard of living

Front 7

In the ________ stage of the economy, production is high, unemployment is low, and retail sales are high.

Back 7

Expansion

Front 8

Baby boomers were born between:

Back 8

1946-1964

Front 9

The social trends have a definited economic consequences for the family and children in America:

Back 9

Incease in the number of mothers in the labor force, dissolution and reconstitution of marriage.

Front 10

The value of the next best alternative that must be sacrificed is referred to:

Back 10

Opportunity cost

Front 11

Of the 92% of Americans over 65 that are currently receiving social security, for _____ % this is their major source of income.

Back 11

63

Front 12

The largest area surveyed in the consumer price index is:

Back 12

Housing

Front 13

_________ is the correct method to determine how much money you must invest now in order to have designated amount in the future.

Back 13

Present value

Front 14

Baby boomers comprise _____ of the american population.

Back 14

1/3

Front 15

The 2 subsystems of the family economic system are:

Back 15

Personal and managerial

Front 16

The young investor should have ______% of her portfolio in stocks.

Back 16

70

Front 17

The _____ IRA is purchased with after tax dollars which means that you have already paid the taxes on the investment.

Back 17

Roth

Front 18

There are 2 basic types of insurance. There are term life and ______ life.

Back 18

Whole

Front 19

_______ is the 3rd step in the 6 steps in the financial planning process.

Back 19

Analyze ratios

Front 20

A ________ is the value of what you own minus what you owe at a specific period of time.

Back 20

Net worth

Front 21

Physical items that have fairly long lifespans and could be sold to raise cash (Ex. laptop) is referred to as a _________ asset.

Back 21

Tangible

Front 22

The Roth IRA requires you to be ______ years old before withdrawing any money without penalty

Back 22

59.5

Front 23

With an _______ will, a trust fund will be set up for the surviving spouse. When he/she dies the money goes to the heirs tax free.

Back 23

AB Trust

Front 24

A ________ is a payment of cash or additional stock to stockholders as approved by the board of directors.

Back 24

Dividend

Front 25

Interest recieved from a _________ bond is both state and federal tax free.

Back 25

Municipal

Front 26

Te 3 types of stocks are income producing, growth and _________.

Back 26

Speculative

Front 27

What you own is also referred to as your _______.

Back 27

Assets

Front 28

The ________ is a conposite index of stock prices representing 30 of the nation's biggest companies.

Back 28

Dow Jones industrial average

Front 29

______________ is the task of maximizing interest earnings and minimizing fees on your funds that are readity available.

Back 29

Cash management

Front 30

Where you place you funds ( how you have them invested) are referred to as __________

Back 30

Cash equivalence

Front 31

Of the 92% of Americans over 65 that are currently receiving social security, for _____ % this is their major source of income.

Back 31

63

Front 32

The largest area surveyed in the consumer price index is:

Back 32

Housing

Front 33

_________ is the correct method to determine how much money you must invest now in order to have designated amount in the future.

Back 33

Present value

Front 34

Baby boomers comprise _____ of the american population.

Back 34

1/3

Front 35

The 2 subsystems of the family economic system are:

Back 35

Personal and managerial

Front 36

The young investor should have ______% of her portfolio in stocks.

Back 36

70

Front 37

The _____ IRA is purchased with after tax dollars which means that you have already paid the taxes on the investment.

Back 37

Roth

Front 38

There are 2 basic types of insurance. There are term life and ______ life.

Back 38

Whole

Front 39

_______ is the 3rd step in the 6 steps in the financial planning process.

Back 39

Analyze ratios

Front 40

A ________ is the value of what you own minus what you owe at a specific period of time.

Back 40

Net worth

Front 41

Traditional checking accounts are known as ___________ deposits

Back 41

Demand

Front 42

_______ is the single most influential factor affecting budgets.

Back 42

Inflation

Front 43

Tenancy in ______ is when two or more parties own the assets, but each owns separate pieces of the property rights.

Back 43

Common

Front 44

The ______ in Savings Act designates that depositors mush be informed of interest rates and frequency of __________.

Back 44

Truth, compounding

Front 45

________ accounts pay higher interest rates but restrict the number of withdrawls per month.

Back 45

Money market

Front 46

Series EE Savings Bonds can be purchased for ______ their face value when they mature.

Back 46

Half

Front 47

If you bounce a check, you must pay an account ________ fee.

Back 47

Exception

Front 48

When preparing a house hold budget, always use your ______ income and all three types of expenditures.

Back 48

Net