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Personal Finance 6th Canadian Edition Test Bank

Get exam-ready with Personal Finance 6th Canadian Edition Test Bank, featuring clear concepts, step-by-step solutions, and study tips from experts.

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1Student: ___________________________________________________________________________1.Personal financial planning has the main goal of:A.Savings and investing for future needs.B.Reducing a person's tax liability.C.Managing money toachieve personal economic satisfaction.D.Spending to achieve financial objectives.E.Savings, spending, and borrowing based on current needs.2.The first step of the financial planning process is toA.develop financial goals.B.implement the financial plan.C.determine your current personal and financial situation.D.evaluate and revise your actions.E.create a financial plan of action.3.Opportunity cost refers to:A.money needed for majorconsumer purchases.B.the trade-off of a decision.C.the amount paid for taxes when a purchase is made.D.current interest rates.E.evaluating different alternatives for financial decisions.4.Increased consumer spending willusually cause:A.lower consumer prices.B.reduced employment levels.C.lower tax revenues.D.lower interest rates.E.higher employment levels.

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Subject
Finance
Textbook
Personal Finance by Jack Kapoor, Le...

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