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SOLUTION MANUAL FOR Introduction to Personal Finance Beginning Your Financial Journey, 2nd Edition John E. Grable, Lance Palmer

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SOLUTION MANUAL FOR Introduction to Personal Finance Beginning Your Financial Journey, 2nd Edition John E. Grable, Lance Palmer-1.1 Multiple-Choice Questions 1. b. the combination of financial knowle... dge and skills. Answer: b; Section: 1.1; LO: 1.1; BT: K; Diff: E; TOT: 2 min; AACSB: K 2. c. I and II only. Answer: c; Section: 1.1; LO: 1.1; BT: C; Diff: E; TOT: 2 min; AACSB: RT 3. d. your financial knowledge, financial risk-taking, and feelings of control over your situation. Answer: d; Section: 1.1; LO: 1.1; BT: K; Diff: E; TOT: 2 min; AACSB: RT 4. c. believe strongly in luck and fate Answer: c; Section: 1.1; LO: 1.1; BT: C; Diff: E; TOT: 2 min; AACSB: RT 5. a. more knowledgeable about the financial marketplace over time and to increase his personal wealth. Answer: a; Section: 1.1; LO: 1.1; BT: C; Diff: E; TOT: 2 min; AACSB: RT 6. c. Having and raising a child. Answer: c; Section: 1.1; LO: 1.1; BT: C; Diff: E; TOT: 2 min; AACSB: RT 7. a. Consumer spending. Answer: a; Section: 1.1; LO: 1.1; BT: K; Diff: E; TOT: 2 min; AACSB: K 8. b. GDP would fall because consumers would spend less on goods and services. Answer: b; Section: 1.1; LO: 1.1; BT: C; Diff: E; TOT: 2 min; AACSB: RT 9. a. A willingness to save money on a regular basis. Answer: a; Section: 1.1; LO: 1.1; BT: C; Diff: E; TOT: 2 min; AACSB: RT 10. c. Michelle, who gives regularly to charity, reads about investing and is self-confident. Answer: c; Section: 1.1; LO: 1.1; BT: C; Diff: E; TOT: 2 min; AACSB: RT 1.1. Adventures in Personal Finance Short Answer 1. Answer: High-quality responses should include a discussion of how the wealth was accumulated, work effort, and locus of control (chance versus work), and also include a discussion of the student‘s perception of his or her locus of control. Please refer to the sample writing assignment rubric in the solutions manual. Section: 1.1; LO: 1.1; BT: C; Diff: E; TOT: 15 min; AACSB: RT, E 2. Answer: Risk tolerance describes your willingness to engage in financial activities that have uncertain outcomes. Individuals with low risk tolerance may be fearful of the financial markets and financial activities and avoid them. As your financial literacy increases and risk perceptions are properly understood, your willingness to engage in risks may increase. Section: 1.1; LO: 1.1; BT: Ap; Diff: M; TOT: 5 min; AACSB: RT, A 3. Answer: High-quality responses should include a discussion of how savings behavior may differ between generations. Please refer to the sample writing assignment rubric in the solutions manual. Section: 1.1; LO: 1.1; BT: Ap or An; Diff: M; TOT: 20 min; AACSB: RT, D 4. Answers will vary based on student experiences. The sample grading rubric found in the solutions manual can be adapted to grade this assignment. [Show More]

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