every week jerome works 40 hours. on fridays, he receives his paycheck. what type of income does jerome…

every week jerome works 40 hours. on fridays, he receives his paycheck. what type of income does jerome earn?\nunemployment income\nearned income\ninvestment income\npassive income\nquestion 5\n1 pts\nalex bought a new television at christmas. now that same television costs $200 less than her purchase price. what does this example best demonstrate?\nincome risk\ninterest rate risk\npersonal risk\ninflation risk\nquestion 6\n1 pts\nmanuel wants to better manage his money and has started to seriously focus on financial planning. he has looked at his accounts and his other resources. what is the next step manuel should take in the financial planning process?\nidentify his short - term and long - term financial goals.\nidentify his potential goals.\nperiodically review and revise his financial plan.\ndecide what his biggest financial risks are.

every week jerome works 40 hours. on fridays, he receives his paycheck. what type of income does jerome earn?\nunemployment income\nearned income\ninvestment income\npassive income\nquestion 5\n1 pts\nalex bought a new television at christmas. now that same television costs $200 less than her purchase price. what does this example best demonstrate?\nincome risk\ninterest rate risk\npersonal risk\ninflation risk\nquestion 6\n1 pts\nmanuel wants to better manage his money and has started to seriously focus on financial planning. he has looked at his accounts and his other resources. what is the next step manuel should take in the financial planning process?\nidentify his short - term and long - term financial goals.\nidentify his potential goals.\nperiodically review and revise his financial plan.\ndecide what his biggest financial risks are.

Answer

Brief Explanations:

  • For the first question, earned income is money received from working, which is the case for Jerome who works 40 hours a week and gets a paycheck. Unemployment income is for those without work, investment income is from investments, and passive income is from sources like rental properties or royalties without active work.
  • For the second question, the decrease in the television's price shows how the value of a purchased item can decline, which is an example of personal risk related to the value of personal - owned assets. Income risk is about loss of income, interest rate risk is about changes in interest rates, and inflation risk is about general price increases.
  • For the third question, after assessing accounts and resources, the next step in financial planning is to identify short - term and long - term financial goals to guide further planning. Identifying potential goals is too broad, periodic review is a later step, and determining biggest financial risks is also a later step in the process.

Answer:

  • Question 1: earned income
  • Question 2: personal risk
  • Question 3: Identify his short - term and long - term financial goals.