Money does not includes checking accounts.

• True

• False

Financial activities of governments involve borrowing funds to build things businesses need to operate.

• True

• False

Decreased borrowing by consumers and businesses usually results in lower interest rates.

• True

• False

A trade surplus involves a country importing more than it exports.

• True

• False

The fifth step in the personal financial planning process is to evaluate alternatives.

• True

• False

The opportunity cost of a decision is what a person gains when making a choice.

• True

• False

A life insurance company is not a deposit financial institution.

• True

• False

Check-cashing outlets are less expensive than services at most other financial institutions.

• True

• False

Capital expenditures refer to payments for current operating expenses.

• True

• False

Property taxes are a NOT major source of revenue for local governments.

• True

• False