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This quiz consists of 5 multiple choice and 5 short answer questions through Chapter 5.

Multiple Choice Questions

1. What is the final part of Step 3?
(a) Choosing expenses to eliminate.
(b) Figuring out how much life energy remains.
(c) Figuring out how much life energy went into each expenditure.
(d) Determining net worth.

2. What is a possible advantage of switching to a lower-paying job?
(a) Ultimately earning more for each hour of life energy spent.
(b) Less life energy spent equals a longer lifespan.
(c) More time available for continuing education.
(d) Less money available to spend.

3. Which of the following does the emotional and psychological perspective of money include?
(a) Fear of unemployment.
(b) Personal responsibility.
(c) Using credit cards.
(d) The tendency to spend quickly or cautiously.

4. Why should readers not use premade categories from other budget books?
(a) Some categories may be out of date.
(b) Everyone has different spending habits.
(c) Some categories are difficult to track.
(d) Other budget books are inferior.

5. Which perspective of money should readers embrace?
(a) Personal responsibility and transformation.
(b) Life energy.
(c) Hedges against inflation.
(d) A personal perspective.

Short Answer Questions

1. Which perspective is feeling connected to a certain social class part of?

2. What is the intrinsic value of money?

3. What is one of the main economic principles most businesses follow?

4. What is the best method of choosing which expenses to reduce or eliminate?

5. Most Americans divide their discretionary time equally between what two activities?

(see the answer key)

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