Question

savings and checking accounts at a credit union are usually called which of the following?

• passbook accounts
• shared accounts
• money market accounts
• certificates of deposit

which factor positively affects lifetime income?

• all of these factors
• a college education
• an apprenticeship
• vocational training

which of the following best describes income?

• money in your savings account
• money donated to the local food bank
• money received for completing a job
• money found on the ground

Explanation:

Analyze credit union account terminology

Credit unions are member-owned financial cooperatives. Savings and checking accounts at credit unions represent ownership shares, so they are referred to as "share accounts" (specifically, share savings and share draft accounts).

Evaluate factors affecting lifetime income

A college education, an apprenticeship, and vocational training all increase a person's skills, knowledge, and marketability, which positively impacts their earning potential over time. Therefore, all of these factors positively affect lifetime income.

Define the concept of income

Income is money received, especially on a regular basis, for work or through investments. Money received for completing a job represents earned income, whereas savings represent accumulated assets, donations represent expenses/charity, and found money is an irregular windfall.

Answer:

Question 1

• Passbook accounts
• Shared accounts (Correct answer)
• Money market accounts
• Certificates of deposit

Question 2

• All of these factors (Correct answer)
• A college education
• An apprenticeship
• Vocational training

Question 3

• Money in your savings account
• Money donated to the local food bank
• Money received for completing a job (Correct answer)
• Money found on the ground