True or Make True: Read each statement carefully and mark whether it is true or false. If it is false, change the all CAPS word or words to make the statement true.
1. Consumers are LIMITED in what they can spend.
2. A budget is balanced when planned expenses are GREATER than expected income.
3. There are two ways an individual can get income: earnings from PROPERTY AND OTHER POSSESSIONS AND FROM WORK.
4. WAGES are income earned from work and are paid on a weekly or monthly basis.
5. Consumer spending is the BIGGEST component of total spending in our economy.
6. Liability insurance provides car owners with financial protection in the event of THEFT, COLLISIONS, AND SIMILAR MISFORTUNES.
7. Advertising seeks to increase the SUPPLY, rather than the DEMAND, of a good or service.
8. If the interest charged on a loan is 2 percent per month, its APR is 24 PERCENT.
9. Advertising benefits consumers by PROVIDING INFORMATION ABOUT NEW PRODUCTS.

