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7) Most investment experts recommend that younger investors put more money into because they have longer for their money to grow and can take more risks than older people. A) Bonds B) Stocks C) Savings Accounts D) Mortgages 8) If you invest $10,000 in savings bonds, you give up the ability to spend that money immediately because the bonds can't be cashed for one year. This is an example of A) Opportunity Cost B) Equilibrium Price C) Accounts Payable D) Tax Deferral 9) Inflation is best defined as A) Falling prices making money less valuable B) The unemployment rate increasing C) Government spending increasing D) Rising prices making money less valuable 10) According to psychologists like Dr. Laurie Santos of Yale, what is the relationship between money and happiness? A) More money brings more happiness to most people B) People with less money are generally happier C) Money has no impact on happiness at any income level D) Once people have enough to live on comfortably money ceases to add to happiness 11) There are many factories in Mexico which assemble cars for German, Japanese, and South Korean auto makers. The most likely reason for assembling the vehicles in Mexico rather than in the corporation's home country is that A) Mexico's factory managers and workers are the most highly skilled in the world, an absolute advantage B) Mexico's land and natural resources are the best for manufacturing, an absolute advantage C) Mexico has a comparative advantage because its geography and climate are ideal for auto production D) Mexico has a comparative advantage because lower labor costs make production cheaper there 12) In general, people in which profession have benefitted the most from globalization and technological innovation? A) Factory workers B) Engineers C) Cashiers D) Butchers 13) The Federal Reserve System, created in 1913, extended government control over the banking system by (1) issuing housing and consumer loans (2) regulating interest rates and the money supply (3) ending private ownership of banks (4) banning loans for stock market purchases For 14-20, choose one of the following answers: A) Savings Account B) Bonds C) Mutual Funds D) Stocks 14) What would be the best investment choice for a person who has a good amount of money saved up and is looking for a high risk, potentially high reward investment? 15) What would be the best investment choice for a person who wants a moderately risky investment to build their wealth up for retirement
