Econ - Unit 9 Review
Authored by Derrick Mulder
Other
9th - 12th Grade
Used 7+ times
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20 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
When you deposit money into a savings account, you get paid
back what you put into it
interest
in frequent flier miles
when you retire
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Banks take money from your savings account and loan it to other people.
TRUE
FALSE
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Interest is
the cost of borrowing money
something you don't want to accumulate
the "penalty" you have to pay for not using your account
what you pay the bank for a savings account
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Credit unions, unlike banks, share their profits with their customers.
TRUE
FALSE
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
With compounding interest
you make a lot of money in a short period of time
you make little money over a long period of time
you make a lot of money over a long period of time
you make little money, but much more quickly
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
You should open a bank account at the same bank where your parents have one.
TRUE
FALSE
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A checking account is the same thing as a DDA
TRUE
FALSE
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