Hunter is a shrewd businessman. He has a knack for being able to recognize a good deal when he sees one. So when his friend was desperately trying to sell his Xbox 360 in an effort to raise money so he could pay for a speeding ticket, Hunter was very interested. As it turns out his friend, Leo was only asking $75 for the console and two controllers. Although slightly used, everything works and is in good condition. If Hunter makes the deal, according to the nature of exchange, what are they agreeing the value of the items are?
Stukent - Unit 2

Quiz
•
Mathematics
•
12th Grade
•
Hard
Alissa Russell
Used 1+ times
FREE Resource
10 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
They are worth $75 because that’s what Hunter paid to get them.
They are worth more like $200 used and Hunter got a great deal.
They can’t say how much the items are worth, because it is all relative. They are worth more than $75 for hunter, but at the time they were worth less than that for Leo.
They don’t know for certain how much everything is worth because you can’t really know with used items without comparing them to new ones.
It doesn’t matter what they value them at, the market decides how much the items are worth based on supply and demand.
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the name of the measuring tool developed by the United Nations to quantify a country’s standard of living?
Human Development Index
Human Living Standard Profile
Standard of Living Qualifier
Developing Standard Index
Standard of Development Rubric
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
True or False: according to the New York Times a typical person in the bottom 10% of the American income distribution is still richer than 68% of the world’s inhabitants.
True
False
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
True or False: The poverty wage in America is $5.00 an hour.
True
False
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Budgeting is not just about monitoring your spending. More than anything else, effective budgeting involves ______. Which of the following is the BEST statement to fill in the blank?
Building savings
Managing credit
Breaking old habits
Behavior modification
Holding banks accountable
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following is the best description for the term discretionary spending?
Discretionary spending is the same thing as net income.
Discretionary spending refers to the money you are obligated to pay such as bills.
Discretionary spending refers to the money you have after your taxes are removed and any mandatory obligations have been covered.
Discretionary spending refers to the money you spend at your own discretion specifically on food or entertainment.
Discretionary spending refers to any money that was originally obligated for a purpose but is now free to spend any way you want.
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
When making a budget, how should you treat your monthly bills that you are obligated to pay?
Each individual bill should have its own category when creating a budget.
It is best to combine all of the bills into one category for your budget.
Bills should not be included in your budget. Your budget should be built to manage your money spent after your bills are paid and not before.
All of the above
Only A & B
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