1. We have learned an awful lot about budgeting our money to reach financial goals and allocating our income in a way to ensure long term security. What can we say about budgeting our time, what does budgeting our time have to do with how productive we are or how time allocation can affect us in reaching our goals? 2. What is meant by liquidity? What is more liquid, 100 pounds of pure silver bullion or a $250.000 three bedroom family home? Why? 3. Name at least two things you have learned about wealth accumulation? what are some ways to accumulate wealth? What are some ways to generate income? 4. We will encounter different aspects of debt and liabilities throughout life. Name two liabilities (debts) that may be justified because of their potential future returns? 5. We participate to get access to social services through taxation. Although we need to pay our fair share we also do not want to overpay. What are four tax deductions one might qualify for at the end of the year? 6. What is the relationship between someones marginal propensity to consume and taxes? 7. What is it about low interest rates that causes consumers to have a higher demand for money? 8. What may be the opportunity cost from holding your money with a bank in their checking account versus a savings or CD account? 9. In one of our assignments we calculated possible returns from investment vehicles offered by our banks. Because of Cavid-19 we have had historically low interest rates, At the current rates, inflation is greater than the returns offered through our banks, How will inflation effect our returns at the end of the year? 10. How does inflation help us pay off our debt over time? 11. Name three variables that affect insurance premiums? Calculating the right amount of premiums will help insurance companies generate profits. What is another way insurance companies generate profits? 12. Consider the following formula for future value: FV = PV x (1 + r)" rate Given the following inputs, what is the future value? Present Value $8000 22.99% Time 3 years (annual compounding) Compound Annual 13. Explain what a loan-to-value ratio is? If the maximum loan-to-value ratio that a lender will accept on a $100.000 home is 80 percent, what is the minimum down payment the borrower must make? 14. Describe how the Economy works like a machine. In that framework. What are the the important lessons to take away from this course for your own life and economic planning? a