Contents 11
4 The Global Economy 4 The Global Economy
74
Flow of Goods and Services
76
Flow of Labor
81
Impact of Multinationals
81
International Monetary system
84
Government’s Role in Global Trade
87
Globalization and You, the Student
94
98
5 Making Smart Decisions 5 Making Smart Decisions
100
The Personal Side of Consumer Choices
102
Making Financial Decisions
109
Managing Resources to Reach Goals
112
6 Personal Finance: An Overview 6 Personal Finance: An Overview
118
Preparing Financial Statements
120
Planning Family Finances
130
Financial Decisions in a Changing World
137
Working Through Financial Problems
140
Keeping Important Documents
141
7 Income and Taxes 7 Income and Taxes
148
The Many Forms of Income
150
The Importance of Taxes
155
Types of Taxes
158
Paying Income Taxes
160
Paying Social Security Taxes
168
8 Financial Institutions and Services 8 Financial Institutions and Services
176
Types of Financial Institutions
179
Choosing a Financial Institution
181
Personal Checking Accounts
185
Unit 2 Unit 2
Managing Your Finances Managing Your Finances