1. Index Funds are better than managed mutual funds because the index fund has lower fees. True or false

2. Market Risk or Macro risk can be completely eliminated by diversifying. True or False

3. The three roles of money are: medium of exchange, unit of account, and store of value. True or False

4. Generally speaking, when a venture has an IRR above the cost of capital it is worth doing. True or False

5. All working age adults are included in the labor force. True or False

6. There is a shortcut formula for both IRR and NPV in Excel. True or False

7. GDP will count the cotton in a T-shirt separately from the T-shirt when measuring total output. True or False