LUOA Personal Finance Module 1 Questions with Correct Answers

LUOA Personal Finance Module 1 Questions with Correct Answers Tom interviewed several of his neighbors and asked them to fill out an anonymous survey about their jobs. He found out that while one person's salary was $24,000 a year, another person's salary was $98,000. What are some factors that would make such a difference? Choose all that could apply. - Answer--The person who had a lower salary was working part time. -One person owns his own business and the other works at a convenience store. -One person is a highly skilled technician and the other performs manual labor. -One person was in management, while the other was an entry level position. -One person has more years of experience than the other. -The person with a higher salary had a higher level of responsibility Although average salaries for teachers in Georgia are $3,000 less than the salaries for teachers in Hawaii, based on the cost of living index, teachers in Georgia rank 4th in the nation compared to Hawaii ranking 50th. What might cause this to happen? - Answer- geography, tourism, climate As technology changes, job opportunities change. In the 1960's and 1970's there were television repair shops in every town and city. Nowadays, there are few or none of these shops around now. Which of the following factors could have led to this present situation? - Answer-All other answers are valid reasons. Match professions or jobs to the necessary training or education needed to be proficient in the particular area. You may check the Bureau of Labor Statistics if you need help. Use the following website: (please contact your teacher if the website has an error or doesn't load) <Link> - Answer--Diesel Mechanic: trade or technical school specialiazing in diesel engines