1.) What kinds of money are included in M1?
A. Money market funds
B. Currency
C. Savings deposits
D. Small-time deposits
2.) In which situation would a family apply for a mortgage?
A. They want to buy a car.
B. They want to go on vacation.
C. They want to buy a house.
D. They want to send their daughter to college.
3.) Which of the following is a positive aspect of using a credit card?
A. The interest charged on credit cards is lower than interest on all other
types of loans.
B. With a credit card, money is automatically deducted from the user's bank account.
C. Using a credit card allows consumers to buy goods even if they don't
have cash.
D. Credit cards bills can quickly add up if the consumer only pays the
minimum.
4.) What service is available through home banking on the Internet?
A. Checking account balances.
B. Withdrawing cash.
C. Lending money to a friend.
D. Selling gold.
5.) Which is not example of a stored-value card?
A. Gift card
B. Credit card
C. Phone card
D. Subway smart card
To get full points please explain EACH!! Thank you.
1) C. Savings deposits 2) best answer is C. They want to buy a house. 3) C. Using a credit card allows consumers to buy goods even if they don't have cash. 4)A. Checking account balances. (mostly this) 5)D. Subway smart card ( i believe is the closest answer)
