Exam 8: Managing Economic Resources

Frederick likes to go out to eat with his friends during the week even when he doesn't have the money for it.He often uses his credit cards to pay for lunches even though he really can't afford it.He also opens new cards to transfer balances.This will lead to excessive debt due to:

Yolanda enjoys watching QVC at night and often finds herself purchasing items that she feels she "must" have.This may lead to excessive debt due to:

In addition to racial and ethnic prejudice,which of the following reasons accounts for Whites (as a group)earning more than Blacks or non-white Hispanics (as groups)?

Garman and Forgue report that median net worth in 2001 of White American households was about

The aim of financial resource management is to achieve economic goals and harmony.

All of these are strengths of happy couples,compared to unhappy couples,regarding finances EXCEPT:

The average housing cost for a divorcing family is:

The total average cost of divorce is $30,000.

The study by Skogrand,Schramm,Marshall and Lee identified _____ as the second most cited problem in new marriages.

Assume you have a credit card with the balance of $1000,and an interest rate of 17% (a common interest rate on credit cards).Assuming you make no new purchases,but you pay the minimum payment,it would cost you $2590 and it would take you _____ to pay off the debt.

Budgeting refers to the regular and systematic,personal commitment to setting aside enough money from each paycheck to pay the minimum payment on credit cards.

In terms of annual expenditures,couples and families spend the largest percentage of their income on food,housing,and _____.

Families who are overextended and who have made no progress in 3 to 6 months should.

According to the chart in the book,is it better to buy or rent?

Which of the following families would be considered lower-income?

Mauricio finds himself fiscally overextended and seeks counseling from a bankruptcy expert.The expert urges him to try to change his debt management behaviors to avoid bankruptcy.Which of the following is likely NOT one of the things he is instructed to do?

Between freshman orientation and college graduation,students double their credit card debt.

Salary differences between U.S.female and male workers decrease as the level of education increases.

A woman with a doctorate degree on average will make more money than a man with just a master's degree.

Approximately how much more yearly does the average college graduate make more than the average high school graduate?