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ARE YOU FINANCIALLY LITERATE? CHAPTERS 1-5
6. An office supply store purchases flash drives, USB cables, and headphones from a Korean manufacturer for resale to its customers in the U.S. With regard to these items, why isn’t the office supply store a consumer? In this scenario, who is the consumer? _ ____________________________________________________________________ _ ____________________________________________________________________ _ ____________________________________________________________________ 7. Think back over the past week. List three ways that you, personally, participated in local commerce: _ ____________________________________________________________________ _ ____________________________________________________________________ _ ____________________________________________________________________ Note: For questions 8, 9 and 10 you will need access to a currency exchange app or website. 8. Your grandparents are thinking of retiring in Costa Rica. They have been shopping online for houses there. They see a house with a price of €75,000,000. How much is that in USD? _ ____________________________________________________________________ 9. Your college-going brother is enjoying a year in Australia on study abroad. He just called home to say “G’Day!” and to ask your parents for 500 Australian dollars to pay his dorm fees. How much will that set your parents back in USD? _ ____________________________________________________________________ 10. Congratulations! You just graduated from college with a degree in economics. You have been offered a job as an economist in Jordan, a small country in the Middle East. The salary is 55,000 Jordanian dinars annually. A Brazilian company has also offered you a job. They will pay you 100,000 Brazilian Reals annually. When converted to USD, which salary is higher? _ ____________________________________________________________________ 11. List five that factors can cause an FX (foreign exchange) rate to fluctuate? _ ____________________________________________________________________ _ ____________________________________________________________________ _ ____________________________________________________________________ _ ____________________________________________________________________ _ ____________________________________________________________________ Consumers are generally considered to be the last stop for a product or service , hence the name consume-r. The store has purchased the items for resale . Its customers are the consumers. Economic news or events. Trade relations between the two countries Political instability (or stability) Any perceived strength or weakness in the issuing country’s economic condition . Interest rates that make investment in a country attractive or unattractive . Student ’s discretion PRODUCT PREVIEW
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THE 21st CENTURY STUDENT’S GUIDE TO FINANCIAL LITERACY
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