Page One Economics

Page One Economics
Economics
Quiz
1. When did income inequality peak?
2. What is the Gini coefficient?
3. In what three ways do people use their income?
4. Define “saving”.
5. Interpret Figure 2
6. Define “wealth”.
7,8. Using Figure 3, state the three stages of consumption and spending in the Life Cycle Theory.
9. Give two options for saving.
10. Interpret the chart, Family Financial Outcomes based on Education.
11. Interpret Figure 4.
12,13. Give three behaviors higher educated families practice.
14,15. List two other factors that can impact income and wealth.
16. How big is the impact of financial literacy?
17. Define transaction costs.

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