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This quiz consists of 5 multiple choice and 5 short answer questions through Chapter 4.

Multiple Choice Questions

1. If people spend half of their time sleeping, eating, and doing everything necessary for maintaining their bodies, then the other half is available for what?
(a) Life energy.
(b) Whatever they choose.
(c) Managing money.
(d) Keeping up with the neighbors.

2. What should the amount started with at the beginning of the month, plus total income, minus total expenses equal?
(a) The amount shown on a bank statement.
(b) Gross income.
(c) The amount of money they have left at the end of the month.
(d) Net worth.

3. What is the state of having enough to spend in order to purchase just enough?
(a) The bottom of the fulfillment curve.
(b) The peak of the success spectrum.
(c) The peak of the fulfillment curve.
(d) The middle of the success spectrum.

4. What is the first half of Step 2?
(a) Determine real hourly wage.
(b) Determine net worth.
(c) Not feeling shame or blame.
(d) Determine real hours worked.

5. What is Step 1, Part 1 of the program?
(a) Determine how much money has been earned so far in a lifetime.
(b) Determine net worth.
(c) Declutter the garage and basement.
(d) List everything owned.

Short Answer Questions

1. What is the term for the unnecessary things, activities, and noise in our lives?

2. Why are expensive convenience foods considered to be a work expense?

3. Under which category does money paid to employ servants and service workers fall?

4. How is net worth determined?

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

(see the answer key)

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