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10 20 30 40 50 10 20 30 40 50 10 20 30 40 50 10 20 30 40 50 10 20 30 40 50 10 20 30 40 50 Know that Name HIRE ME! MY EconoMY Inflation or Bust Grab Bag Paycheck Please…
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What do we call the percentage index used to measure inflation? 10 CPI (Consumer Price Index)
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What type of buying pattern is it when consumers use logic to act in their own best self-interests to make purchases 20 rational buying
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What type of raise will provide an increase in your purchasing power: 30 merit raise or bonus
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When gasoline prices fall and jump back up again, this is an example of: Choose: deflation, hyperinflation, reflation deflation, hyperinflation, reflation40 reflation
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Name some examples of public goods your tax dollars go to pay for: 50 public education, police, national and local parks, roads, firemen…
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True or False: Statistics show the amount and type of education you complete DOES NOT affect your income. 10 FALSE
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True or False: You should not smile during a job interview because you want to show you are serious about the job. 20 FALSE
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The group of friends or acquaintances you keep in contact with and share information with is called your: 30 Social Network (Helps in networking for a job)
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Type of self-employment business that starts small but intends to grow into a corporation: 40 Venture
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Name 3 factors that affect your earning potential. 50 Education, natural talent, hard skills, soft skills, experience
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True or False: When demand exceeds supply, businesses will charge lower prices for a product 10 FALSE
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Thankfully, the US has not experienced this type of inflation where the prices rise out of control going 50%- 300% inflation 20 HYPERINFLATION
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When a business sets prices on the cost of production plus a markup, they are using what pricing strategy? 30 Cost-plus pricing
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During this phase of the economic business cycle, although you may want to stop spending, it is better to spend a little more than save : Choose: peak, recovery, recession, trough 40 recession
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When supply exceeds demand, will business typically raise or lower prices? 50 LOWER
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True or False: When prices are rising faster than your income, you gain purchasing power 10 FALSE
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TRUE True or False: The most common type of inflation is demand-pull (we cause demand which pulls up prices) 20
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Cost -push If a business raises a price because their cost to create the product rises, this is known as what type of inflation? Choose: demand-pull, cost-push, real-cost 30
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2-3% What percentage of mild inflation is said to be good for the economy? 40
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This concept says that a dollar you receive in the future will be worth less than a dollar your receive today. 50 time value of money
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True or False: Salaried workers usually do not keep time cards or count hours worked or receive overtime pay 10 10 TRUE
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True or False: With E-filing a tax return, tax refunds will be a lot slower than filing a paper return 20 FALSE
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Overtime pay (over 40 hours per week) is paid at what amount times the regular rate? 30 1 ½ (1.5 times regular)
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True or False: Sales tax is considered a progressive tax. 40 FALSE
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True or False: Lifelong learning of new skills will help you get a job and earn higher pay and promotions. 50 TRUE
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The following accomplishments might earn you what type of financial aid as a gift?... The following accomplishments might earn you what type of financial aid as a gift?... grades, athletic skills, financial need grades, athletic skills, financial need10 scholarship
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On the job training is considered what type of education? Choose: formal, self, informal 20 informal
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What is income received from sources other than working? 30 unearned income
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True or False: Using fancy fonts, special paper and flashy elements is a good idea to help your resume stand out 40 FALSE FALSE
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What is a set of moral values that people consider acceptable? 50 ethics ethics
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Final Jeopardy Draw a diagram showing the relationship between Supply, Demand and Prices (use S, D, P) Draw a diagram showing the relationship between Supply, Demand and Prices (use S, D, P) ** NOTE: reaching an equilibrium of supply and demand is a desired outcome in the long run
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