Marshall University MIS 310 Fall 2013 Chapter 4-6 Quiz Answers-MCQ+SHORT ANS

57.Higher prices are likely to result from: A. lower demand by consumers.B. increased production by business.C. lower interest rates.D. increased spending by consumers without increased production.E. an increase in the supply of a product.58.With an inflation rate of 9 percent, prices would double in about ___________ years. A. 4B. 6C. 8D. 10E. 1259.Increased consumer spending will usually cause: A. lower consumer prices.B. reduced employment levels.C. lower tax revenues.D. lower interest rates.E. higher employment levels.60.The main economic influence that determines prices is: A. the stock market.B. interest rates.C. employment.D. government spending.E. supply and demand.61. As Jean Tyler plans to set aside funds for her young children’s college education, she is setting a(n) ____________ goal. A. intermediateB. long-termC. short-termD. intangibleE. durable62. Brad Opper has a goal of “saving $50 a month for vacation.” Brad’s goal lacks: A. measurable terms.B. a realistic perspective.C. specific terms.D. the type of action to be taken.E. a time frame.63. Opportunity cost refers to: A. money needed for major consumer purchases.B. what a person gives up by making a choice.C. the amount paid for taxes when a purchase is made.D. current interest rates.E. evaluating different alternatives for financial decisions.64. Which type of computation would a person use to determine current value of a desired amount for the future? A. simple interestB. future value of a single amountC. future value of a series of depositsD. present value of a single amountE. present value of a series of deposits65. When prices are increasing at a rate of 6 percent, the cost of products would double in about how many years? A. 7.2 yearsB. 10 yearsC. 6 yearsD. 12 yearsE. 18 yearsChapter 4Excise Tax:Estate Tax:Inheritance Tax:Taxable Income:Earned Income:Investment Income:Passive Income:Exclusion:Tax-Exempt Income:Tax-Deferred Income:Adjusted Gross Income (AGI):Tax Shelter:Tax Deduction:Standard Deduction:Itemized Deductions:Exemption:Marginal Tax Rate:Average Tax Rate:Tax Credit:Tax Audit:Tax Avoidance:Tax Evasion:Capital Gains:Tax-Planning Strategies:·Tax-Exempt Investments:Chapter 5Trust:·Asset Management Account:Automatic Teller Machine (ATM):Debit Card:Commercial Bank:Savings and Loan Association (S&L):Mutual Savings Bank:Credit Union:Money Market Fund: