Pre-Test

Number your paper 1-25
​If you are unsure of an answer, write "IDK."
100% for just completing it, 0% for not

1)  What is the Federal Reserve?
2)  What policies does the Federal Reserve use?
3)  Name the 3 major policies the Federal Reserve uses.
4)  What are 3 ways to control trade with other countries?
5)  What causes inflation?
6)  What is a fiat currency?
7)  What does FDIC stand for and what does it do?
8)  Name 3 types of bonds.
9)  What is the difference between a command economy and a market economy?
10)  What is CPI and what is it used for?
11)  What happens in a business during the compression cycle?
12)  What is the difference between microeconomics and macroeconomics?
13)  What is the time value of money?
14)  What is the difference between a Roth IRA and a Traditional IRA?
15)  What is a money market account?
16)  What is an ABA number?
17)  List one advantage and one disadvantage to a CD.
18)  What is a debt to credit ratio?
19)  What is collateral?
20)  What does it men to have a lien on a house?
​21)  What is the rule 0f 72?
22)  What is a mutual fund?
23)   What does it mean to short sell?
24)  What are capital gains?
​25)  What does comprehensive insurance cover?