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Twenty Questions

ECONOMICS:

Twenty Questions

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1. This has a fixed interest rate for a specified period of time.

Certificate of deposit.

2. Interest rate changes over time.

Money market account.

3. When employee’s pay Is deposited into bank account

Direct deposit.

4. A computer terminal that you can withdraw or deposit cash from

Automated teller machine

5. Electronically moves money from one bank to another

Type the answer here.

6. Can be replaced if lost or stolen.

Travelers checks

7. You pay the currency exchange and they issue one of their checks

Money order

8. Boxes with individual locks that you may rent from a bank

Safe deposit boxes

9. The amount of money borrowed.

Principal

10. Length of time the money is borrowed.

Term

11. In Illinois, a car owner must have this type of insurance

Liability insurance.

12. A way to save money when shopping.

Comparison shopping.

13. New product warranty when there isn’t a written one.

Implied warranty.

14. Federal cooling off period.

3 days.

15. If a consumer refuses to pay for repairs, the car shop can…..

Place a lien on the property.

16. Sticker price.

Is generally discounted in part on the basis of the buyer’s negotiating ability.

17. Safety features are important because.

In an average year, one in three motorists is involved in an accident

18. A lease is a…

Rental agreement.

19. Terms in a lease.

May be negotiated with a landlord.

20. Credit.

The ability to borrow money in return for a promise of future repayment.