Determine Whether the Spending Pattern Described Is At, Above, or Below

question 23

Multiple Choice

Determine whether the spending pattern described is at, above, or below the national average. Assume that any salariesor wages are after tax.
-A single 48-year old man with a monthly salary of $4800 spends $1200 on rent.

• A)at average
• B)below average
• C)above average

---

Definitions:

Investment Securities

Financial instruments such as stocks, bonds, and mutual funds that are purchased with the expectation of earning a return.

Sales Of Goods

Transactions or agreements involving the exchange of tangible, movable items between parties for money or other consideration.

Temporary Insurance

A limited-term coverage that provides immediate protection until a permanent insurance policy is issued or denied.

Actual Policy

The specific, enforceable terms and conditions of an insurance contract as it has been issued.