Economic Issues for Consumers

, by Miller, Roger LeRoy; Stafford, Alan D.

Note: Supplemental materials are not guaranteed with Rental or Used book purchases.

ISBN: 9780534552367 | 0534552366
Cover: Hardcover
Copyright: 7/31/2000

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This book employs an "issues approach" to consumer economics. Each chapter has one or two consumer issues that are highlighted through engaging, real world examples. These real world examples are highly applied aspects of everyday consumer situations.

Preface

xvii

Unit 1 The Consumer in Today's World

(116)

The Consumer in Our Electronic Economy

(23)

Scarcity and the Consumer

(1)

Universal Scarcity

(1)

The Necessity of Choice

(1)

Choice and Opportunity Cost

(1)

The Tradeoffs Facing You

(1)

An Implicit Assumption

(1)

Markets

(1)

Voluntary Exchange in the U.S. Economy

(1)

Demand and Supply Analysis---A Brief Introduction

(1)

Law of Demand

(1)

Law of Supply

(1)

Equilibrium Price

(1)

The Rational Consumer---What's a Dress Worth?

(2)

Relative Price

(1)

Consumer Sovereignty in a Market Economy

(1)

The Real World of Imperfect Competition

(1)

Role of Government

(1)

The Cyber Consumer---Furnishing a Home Online

(1)

Americans in an Electronic Market

(1)

Growth of the Internet

(1)

Consumer Use of the Internet

(1)

The Cyber Economy

(1)

New Technology---New Responsibilities

(1)

Consumer Economics in an Electronic Economy

(1)

Consumer Issues: An Introduction

(1)

Consumer Issue 1: Ethics and the Consumer

(7)

Rational Consumer Decision Making

(21)

Decisions, Decisions

(1)

Rational Consumer Decision Making

(2)

Values and Rational Decision Making

(8)

What are Values?

(3)

Deciding to Act

(1)

Identifying Alternatives

(1)

Evaluating Alternatives

(5)

Conspicuous Consumption

(1)

Time Management and Rational Decision Making

(3)

Breaking Parkinson's Law

(2)

Consumer Issue 2: Buying Technology--Based Products

(7)

A Flood of Advertising

(21)

Costs and Benefits of Advertising

(1)

Who Pays?

(1)

Brand--Name Advertising

(2)

Promoting Brand--Name Loyalty

(1)

The Value of Brand Names

(1)

Benefits of Brand Names to Producers

(1)

Other Types of Advertising

(1)

Informative Advertising

(1)

Comparative and Defensive Advertising

(1)

The Cyber Consumer---Informative Advertising on the Internet

(1)

The Ugly Side of Advertising

(1)

Deceptive Advertising

(2)

What Kinds of Ads Are Deceptive?

(1)

Bait and Switch: The Case of the Obsolete Video Camera

(1)

Other Deceptions

(1)

Consumer Closeup---What Constitutes Bait and Switch?

(1)

What the FTC Can Do

(1)

Cease-and-Desist Orders

(1)

Counteradvertising

(1)

What You Can Do

(1)

Advertising and Your Privacy

(1)

Your Telemarketing Rights

(1)

Privately Prepared Information

(1)

The Ethical Consumer---Would You Buy Kathie Lee Clothing?

(1)

How Much Information Should We Acquire?

(2)

Consumer Issue 3: Shopping on the Internet

(6)

The Many Faces of Fraud

(17)

Personal-and Health-Care Fraud

(1)

The Cyber Consumer---The National Fraud Information Center

(2)

Weight Reduction

(1)

The High Price of Beauty

(1)

Health-Insurance Scams

(1)

Consumer Goods Fraud

(2)

Being an Assertive Consumer

(1)

Cooling-Off Periods

(1)

Consumer Closeup---When Is a Toupee Not a Wig?

(1)

Telemarketing and Mail-Order Madness

(1)

Federal Trade Commission Rules

(1)

Hints to Catalog Shoppers

(1)

Protection from Fraudulent Advertising

(4)

Automobile Repair Services

(1)

TV or Computer Repair Services

(1)

Buying Education

(1)

Financial-Services Fraud

(1)

Interstate Land Sales

(1)

Credit Card Fraud

(1)

Ways to Avoid Being Victimized by Consumer Fraud

(1)

Consumer Issue 4: Recognizing and Avoiding Internet Fraud

(4)

Protection for the Consumer

(33)

Sources of Consumer Protection

(5)

Antitrust Laws

(2)

Food and Drug Act

(1)

A Renewed Interest in the Consumer

(1)

The Presidents Speak Up

(1)

Consumer Responsibilities

(1)

Enforcement of Federal Consumer Protection Laws

(1)

The Ethical Consumer---How Far Would You Go?

(1)

Consumer Affairs Council and Coordination of Consumer Programs

(1)

Federal Trade Commission

(1)

The Cyber Consumer---The U.S. Department of Commerce Home Page

(2)

Consumer Product Safety Commission

(1)

State and Local Governments and Consumer Protection

(1)

Using Small Claims Courts

(1)

The Global Consumer---Recalls Happen Everywhere

(3)

What Are Your Rights and Responsibilities?

(1)

You Have to Watch Out

(1)

Does Your Case Make Sense?

(1)

How These Courts Work

(1)

Preparing for Trial

(1)

What Happens in Court

(1)

Sources of Private-Sector Consumer Protection

(3)

Organizations That Report on Consumer Products

(1)

Consumers Union

(1)

Consumers' Research Association

(1)

Other Product-Testing Groups

(1)

Better Business Bureaus

(2)

Role of the Media

101

(1)

Private Industry's Self-Regulation

101

(1)

Warranties and Consumer Protection

101

(3)

Magnuson-Moss Warranty Act

102

(1)

Full versus Limited Warranties

102

(1)

Settling Disputes

102

(1)

Implied Warranties

102

(1)

Implied Warranty of Merchantability

103

(1)

Implied Warranty of Fitness

103

(1)

Consumer Protection Today

104

(2)

Consumer Issue 5: Getting Help for Consumer Problems

106

(11)

Unit 2 Budgeting

117

(58)

The Consumer as Wage Earner

118

(22)

Investment in Human Capital

119

(1)

Rate of Return for Education

119

(1)

The Changing Job Scene

120

(1)

Occupational Wage Differentials

121

(1)

The Global Consumer---Preparing for a Career in the Global Economy

122

(1)

Wages and Ages

122

(1)

Occupational Choice and Income

123

(1)

The Cyber Consumer---Career Guidance on the Internet

124

(1)

Nonmoney Income

125

(1)

Gender and Jobs

126

(1)

Problems in the Workplace

127

(1)

Jobs through the Year 2006

127

(1)

Consumer Closeup---Equal Athletic Opportunities

127

(3)

The Problem of Inflation

130

(2)

How Inflation Is Measured

130

(1)

Problems with the CPI

131

(1)

Varying Effects of Inflation

132

(1)

Inflation and Consumer Decisions

132

(1)

Real and Money Values

133

(1)

Consumer Issue 6: How to Choose and Start a Career

134

(6)

You Have to Live with What You Have

140

(18)

Consumers Need a Spending Plan

141

(1)

Democratic Decision Making

142

(1)

The Family Council

142

(1)

College and Budgeting

143

(1)

Budget Making, Goals, and Value Clarification

143

(1)

The Cyber Consumer---Finding Financial Aid Online

144

(1)

How Does the Typical Household Allocate Its Income?

145

(1)

Creating a Budget Plan

146

(2)

The Importance of Keeping Records

147

(1)

Constructing a One-Month Budget Worksheet

147

(1)

Developing an Annual Budget Worksheet

147

(1)

Reviewing Your Budget

148

(1)

Fitting It All into a Lifetime Plan

148

(1)

The Rational Consumer---What Is a Necessity?

149

(1)

Budget-Assistance Programs

150

(1)

Budget Software

150

(1)

Consumer Credit Counselors

150

(1)

Consumer Issue 7: Budgeting for Recreation and Leisure

151

(7)

Paying for Government

158

(17)

The Whys and Hows of Taxation

159

(3)

First, a Little Theory

159

(1)

The Benefit Principle

159

(2)

The Ability-to-Pay Principle

161

(1)

Personal Federal Income Tax

162

(1)

How Our Progressive System Evolved

162

(1)

The Rational Consumer---Taxes on Tips

163

(2)

A Complicated Tax System

164

(1)

Taxpayers as Consumers of Government Services

164

(1)

The Cyber Consumer--Tax Assistance from the IRS Online

165

(1)

Consumer Issue 8: Preparing Your Income Tax Return

166

(9)

Unit 3 Major Consumption Expenditures

175

(106)

The $850+ Billion American Diet

176

(29)

Choosing the Food We Eat

177

(1)

Government Labeling and Inspection Requirements

178

(5)

Fair Packaging

178

(1)

Food Labeling

178

(2)

USDA Grades

180

(1)

Meat

181

(1)

Poultry

181

(1)

Other Food Products

182

(1)

Irridated Meats

182

(1)

The Global Consumer---Exporting Genetically Modified Foods

183

(1)

Food Labels and the Consumer

183

(1)

The Cost of Labeling

183

(1)

Nutrition

183

(3)

Recommended Dietary Allowances

185

(1)

Basic Food Groups

185

(1)

Food Additives

186

(4)

Classification of Additives

188

(1)

Direct Additives

188

(1)

Food Colors

189

(1)

Preservatives

189

(1)

Artificial Sweeteners

189

(1)

The Cyber Consumer---Online Dietary Guidelines

190

(3)

Indirect Additives

191

(1)

How Safe Is ``Safe''?

191

(1)

Consumer Confusion

191

(1)

Dietary Supplements

192

(1)

Tradeoffs We Make When We Buy Food

193

(1)

Health, Natural, and Organic Foods

193

(1)

The Growing Trend toward Convenience Food

193

(2)

Why Convenience Foods?

193

(1)

Fast Foods Aren't Necessarily Junk Foods

194

(1)

Getting the Most for Your Food-Shopping Dollar

195

(2)

Are Name-Brand Foods Better?

195

(1)

The Psychology of Selling Food

196

(1)

Unit Pricing

196

(1)

Electronic Price Scanning and the Consumer

196

(1)

The Rational Consumer---Truth in Weight-Loss Programs

197

(1)

Consumer Issue 9: Shopping for the Lo-Cal Diet

198

(7)

Purchasing Household Products

205

(25)

Clothing, Happiness, and Budget Considerations

206

(1)

Why So Many Clothes?

207

(1)

Customs

207

(1)

Aesthetic Considerations

207

(1)

Values

207

(1)

Durability versus Price

208

(1)

Indications of Quality

208

(4)

Fabric Content

208

(1)

Tailoring

209

(3)

The Powerful Fashion Industry

212

(1)

What's in a Name?

212

(1)

Government Regulation

212

(1)

The Cyber Consumer---Shopping for Fashion on the Internet

213

(1)

Choosing Durable Goods

214

(1)

Consumer Durables as an Investment

215

(1)

Evaluating the Purchase of a Consumer Durable

215

(4)

The Cost Side of the Picture

216

(2)

Benefits

218

(1)

Servicing Your Consumer Durables

219

(2)

Pros and Cons of a Service Contract

219

(1)

The ``90'' Rule

220

(1)

Before you Call a Service Person

220

(1)

Consumer Closeup---Rent-to-Own Agreements

221

(1)

The Special Case of Buying Furniture

221

(3)

Judging the Quality of Furniture

221

(1)

Choosing Where to Purchase Furniture

222

(1)

Purchasing Furniture over the Internet

223

(1)

What to Do When You Have a Complaint

224

(1)

Consumer Issue 10: Finding the Right Deal for a Consumer Durable

225

(5)

Getting There Is Half the Worry

230

(22)

We Depend on Cars in Many Ways

231

(1)

The Trend toward Safer Automobiles

231

(1)

Safety Requirements

231

(1)

Costs and Benefits of Safety Devices

232

(1)

Safety and Sobriety

232

(1)

The Social Costs of Driving

232

(1)

The Private Costs of Driving

233

(1)

The Repair Dilemma

233

(1)

The Cost of Depreciation

234

(1)

Getting Good Repairs

234

(1)

Deciding When to Buy

234

(1)

Deciding What You Want

235

(1)

Gathering Information

235

(1)

What Type of Car to Buy?

236

(1)

Options

236

(1)

Dealer Add-ons

236

(1)

Getting the Best Deal on a New Car

236

(2)

Buying through a Dealership

236

(1)

Location

237

(1)

Reputation

237

(1)

Service Facilities and Personnel

237

(1)

The Deal Offered

238

(1)

Sales Tactics

238

(1)

High-Balling

238

(1)

The Rational Consumer---Do You Have the Right to Know?

238

(2)

Low-Balling

239

(1)

Bushing

239

(1)

Car Shopping on the Internet

239

(1)

The Cyber Consumer---Purchasing Cars Online

240

(1)

Leasing versus Buying

240

(2)

How a Lease Works

241

(1)

Steps to Leasing

241

(1)

Should You Choose a Used Car?

242

(2)

Final Guidelines for Consumers

244

(1)

Financing That Purchase

244

(2)

Where to Borrow For a Car

244

(1)

What Length of Loan to Take Out

245

(1)

Know Your Lemon Laws

246

(1)

Arbitration Programs

247

(1)

Criticism of Industry Arbitration Panels

247

(1)

The Rational Consumer---Choosing the Right Repair

247

(1)

Consumer Issue 11: How to Avoid Fraudulent Car-Repair Practices

248

(4)

Putting a Roof over Your Head

252

(29)

Why Are We Willing to Pay So Much?

253

(1)

Renting versus Buying

253

(4)

Advantages of Renting

254

(1)

Advantages of Buying

254

(1)

Tax Benefits of Home Ownership

255

(1)

How Much Can You Afford?

255

(1)

Initial Costs

255

(1)

Monthly Costs

255

(2)

If You Decide to Buy

257

(2)

Looking on the Internet

257

(1)

What Does a Real Estate Agent Do?

257

(1)

For Whom Does a Real Estate Agent Work?

258

(1)

The Ethical Consumer---Conflicting Values and Sprawl Control

259

(3)

How to Bargain

259

(1)

Before You Sign Anything

260

(2)

Making the Offer

262

(1)

Title Examination and Insurance

262

(1)

Different Types of Homes

263

(2)

Condominiums

263

(1)

Townhouses

264

(1)

Cooperatives

264

(1)

Paying for Your Home

265

(1)

Sources of Mortgages

265

(1)

Comparison Shopping

265

(1)

Mortgage Talk

266

(1)

Discount Points

266

(1)

Prepayment Privilege

266

(1)

Amortization

266

(1)

Different Kinds of Mortgages

266

(1)

Conventional (Fixed-Rate) Mortgage

266

(1)

The Cyber Consumer---Mortgage Calculators on the Internet

267

(3)

Adjustable-Rate Mortgage

268

(1)

Graduated-Payment Mortgage

268

(1)

Rollover Mortgage

268

(1)

VA Mortgage

269

(1)

FHA Mortgage

270

(1)

Creative Financing

270

(1)

Mortgage Repayment Terms

271

(1)

The 15-Year Mortgage

271

(1)

Extra Payments

272

(1)

Biweekly Payments

272

(1)

Closing Costs

272

(2)

The Rational Consumer---Finding Rental Information

274

(1)

Consumer Issue 12: Renting a Home

275

(6)

Unit 4 Financial Management

281

(90)

Banks and the Banking System

282

(23)

Depository Institutions

283

(1)

Federal Reserve System

283

(1)

Structure and Powers of the Federal Reserve System

283

(1)

A Clearinghouse for Checks

284

(1)

Different Types of Checkable Accounts

284

(4)

Minimum Balance

285

(1)

Free Checking

286

(1)

Activity, or ``Per-Check,'' Plan

286

(1)

Package Plan

286

(1)

Overdraft Accounts

286

(1)

NOW and Super NOW Accounts

286

(1)

Money Market Deposit Accounts

286

(2)

Asset Management Accounts

288

(1)

Selecting the Right Account

288

(1)

Certified Cashier's and Traveler's Checks

289

(1)

Selecting the Right Bank---Beware before You Deposit

289

(1)

How to Avoid Banking Problems

290

(3)

Writing Check

290

(1)

Endorsing a Check

290

(1)

Stale Checks

291

(1)

Stop-Payment Orders

291

(1)

Deposit Holds

291

(1)

Avoiding Bounced Checks

292

(1)

Reconciling Your Bank Balance

293

(1)

How to Settle a Complaint with a Bank

293

(1)

Electronic Fund Transfer Systems

294

(3)

Types of Electronic Transfers

294

(1)

Automated Teller Machines

294

(1)

Point-of-Sale Systems

295

(1)

Preauthorized Direct Deposits and Withdrawals

295

(1)

Pay-by-Telephone System

295

(1)

Protection with Electronic Banking

296

(1)

Consumer Closeup---How Much Is Convenience Worth?

297

(1)

The Trend toward a Cashless Society

297

(1)

The Ethical Consumer---The Ethical Use of Cyberspace

298

(1)

The Cyber Consumer---Online Banking Services

299

(1)

Consumer Issue 13: Coping with Computerized Banking Services

300

(5)

The Indebted Consumer

305

(26)

The Indebted Society

306

(1)

Sources of Credit

306

(2)

Sources of Consumer Loans

306

(1)

Commercial Banks

306

(1)

Consumer Finance Companies

306

(1)

Credit Unions

307

(1)

Loans on Your Life Insurance

307

(1)

Other

307

(1)

Sources of Consumer Sales Credit

307

(1)

Automobile Dealers and Financial Services

307

(1)

Credit Cards

307

(1)

Credit Online

308

(1)

Why Borrow?

308

(1)

Saving versus Credit Buying

309

(2)

What It Costs to Borrow

311

(1)

Interest Rate Determination

311

(1)

Finance Charges

311

(1)

Consumer Credit Legislation

312

(1)

Truth-in-Lending

312

(1)

Consumer Closeup---A Tale of Woe

313

(1)

Regulation of Revolving Credit

313

(2)

Two-Cycle Method

315

(1)

Equal Credit Opportunity

315

(1)

Fair Credit Billing Act

316

(1)

Fair Credit Reporting Act

316

(1)

Fair Debt Collection Practices Act

317

(1)

The Cyber Consumer---Checking Your Credit History

318

(1)

Going into Personal Bankruptcy

318

(1)

Why So Many Bankruptcies?

319

(1)

The Ethical Consumer---Bankruptcy: Who's at Fault?

319

(1)

Filing for Chapter 7 Bankruptcy

320

(1)

Exemptions

320

(1)

Advantages and Disadvantages of Straight Bankruptcy

321

(1)

Chapter 13 Plans

321

(1)

Consumer Issue 14: Coping with the Credit Maze

322

(9)

Saving

331

(16)

Why Save at All?

332

(1)

What Determines How Much You Save?

333

(2)

Saving and Expected Rates of Inflation

333

(1)

Taxes and Saving

333

(1)

Your Savings Goals

334

(1)

Other Determinants of the Rate of Saving

334

(1)

The Nature of Compound Interest

335

(1)

Alternative Vehicles for Saving

336

(2)

Passbook Savings Accounts

336

(1)

Time Deposits

336

(1)

Why Use Time Deposits

337

(1)

Disadvantages of Time Deposits

337

(1)

Types of Time Deposits

337

(1)

Club Accounts and Bonus Savings Accounts

337

(1)

Certificates of Deposit

338

(1)

Floating-Rate Deposit Accounts

338

(1)

NOW and Super NOW Accounts

338

(1)

Money Market Deposit Accounts

339

(1)

U.S. Savings Bonds

339

(1)

Series EE Bonds

339

(1)

Series HH Bonds

340

(1)

I Bonds

340

(1)

Treasury Securities

340

(1)

The Cyber Consumer---Investigating Savings Option Online

341

(1)

How Much to Save?

342

(1)

Consumer Issue 15: Creating an Individual Savings Plan

343

(4)

Investing

347

(24)

The Simple Facts about Investing

348

(1)

The Risk and Rate of Return Tradeoff

348

(1)

Some Facts about the Stock Market

348

(1)

Common Stock

349

(1)

The Rational Consumer---Who Wins in an IPO?

349

(2)

Preferred Stock

350

(1)

Corporate Bonds

350

(1)

Capital Gains and Losses

351

(1)

What Affects the Price of a Stock?

351

(1)

Making Money in the Stock Market

351

(3)

Should You Employ a Full-Service Broker?

352

(1)

Choosing a Full-Service Stockbroker

352

(1)

Investing Online

353

(1)

What About Investment Advisers?

354

(1)

Mutual Funds

354

(3)

The Two Types of Mutual Funds

355

(1)

Money Market Mutual Funds

356

(1)

The Cyber Consumer---Checking Out Mutual Funds Online

357

(1)

Is There No Way to Get Rich Quick?

358

(1)

Watch for Those Sure-fire Schemes

359

(1)

The Global Consumer---Buy Them When They're Down

359

(1)

Pensions and Retirement Funds

360

(3)

Individual Retirement Accounts

360

(1)

Roth IRAs

360

(1)

Investing through 401(k)s

361

(1)

Keogh Plans

361

(2)

Consumer Issue 16: Making Personal Investment Plans

363

(8)

Unit 5 Risk Management

371

(74)

The Health-Care Dilemma

372

(28)

The Foundation of Insurance---Risk Pooling

373

(1)

Our Need for Medical Insurance

373

(1)

The Government Steps In

374

(1)

The Insurance Framework

374

(2)

The Supply of Medical Care

376

(2)

Restricted Entry

376

(1)

A Surplus of Physicians?

376

(2)

Drug Regulation and Its Costs

378

(1)

High-Tech Medicine

379

(1)

The Malpractice System

379

(1)

Who Can Afford the Medical Bill?

380

(1)

Consumer Closeup---Should You Have a Right To Know?

380

(1)

Health-Care Dilemma---or Crisis?

381

(1)

Tackling Waste and Inefficiency

381

(6)

Health Maintenance Organizations

382

(1)

HMO Legislation

382

(1)

The Pros and Cons of HMOs

382

(1)

Preferred Provider Organizations

383

(1)

Cost-Management Systems

383

(2)

Controlling Medicare Costs

385

(2)

Mandatory Health Insurance Coverage

387

(1)

Weaknesses in the Proposed Mandatory Plans

387

(1)

Potential Benefits of Universal Medical Insurance

387

(1)

The Ethical Consumer---What do You Do When Your Insurer Says No?

388

(1)

The Clinton Administration Tries but Fails

388

(2)

The Clinton Proposal

388

(1)

Why Congress Failed to Act

389

(1)

Health Care as a Consumer Product

389

(1)

The Cyber Consumer---Searching for Medical Insurance Online

390

(2)

Health Care as a Constitutional Right

390

(2)

Consumer Issue 17: Purchasing Medical Care

392

(8)

Insuring Your Home and Your Automobile

400

(19)

Insuring Your Home

401

(5)

Types of Homeowners' Coverage

401

(1)

Adding a Personal-Articles Floater Policy

402

(1)

Personal-Effects Floater Policy

402

(1)

Excess-Liability Policy

402

(1)

Flood Insurance

402

(1)

How Much Insurance Should You Have?

403

(1)

Periodic Review of Coverage

404

(1)

How to Save on Insurance

404

(1)

Homeowners' Warranties

405

(1)

What About Renters' Insurance?

405

(1)

Automobile Insurance

406

(1)

Liability Insurance

406

(1)

Medical Payment Insurance

407

(1)

The Cyber Consumer---Searching for Home Protection Online

407

(4)

Collision Insurance

408

(1)

Comprehensive Insurance

408

(1)

Uninsured Motorist Insurance

408

(1)

Accidental Death Benefits

408

(1)

What Determines the Price of Auto Insurance?

408

(2)

No-Fault Insurance, Pros and Cons

410

(1)

What is No-Fault?

410

(1)

No-Fault versus Liability---Which Is Better?

410

(1)

Consumer Closeup---Protecting Your Insurance Rights

411

(2)

How to Shop for Insurance

411

(1)

How to Lower Your Insurance Rates

The Special Problem of Insurance for Rental Cars

412

(1)

The Rational Consumer---Are Air Bags Really Safe?

413

(1)

When You Are Refused Insurance

413

(1)

Consumer Issue 18: Choosing a Lawyer

414

(5)

Life Insurance and Social Security

419

(26)

Life Insurance and Our Need for Security

420

(1)

Premature Deaths

420

(1)

History of Life Insurance

420

(1)

The Basic Types of Life Insurance

421

(1)

The Cyber Consumer---Searching for Life-Insurance Protection Online

422

(7)

Term Insurance

422

(1)

Renewability

423

(1)

Convertability

423

(1)

Whole Life Insurance

424

(1)

Premiums

424

(2)

Borrowing on Your Cash Value

426

(1)

When You Reach Retirement Age

426

(1)

Death Benefits

426

(2)

Universal Life Insurance

428

(1)

Some Specialized Insurance Policies

429

(1)

Combination Plans

429

(1)

Family Plan

429

(1)

Family Income Plan

429

(1)

Extra Protection Policy

429

(1)

Modified Life Policies

430

(1)

Adjustable Life Insurance

430

(1)

Other Types of Life-Insurance Policies

430

(1)

Group Insurance

430

(1)

Credit Life Insurance

430

(1)

Reading a Life-Insurance Contract

431

(1)

Consumer Closeup---Honesty Is the Best Policy

431

(1)

Choosing a Sound Life-Insurance Company

432

(1)

Involuntary Benefit Programs---The Case of Social Security

433

(5)

Basic Benefits of Social Security

435

(1)

How Social Security Is Paid

435

(1)

Working While Receiving Social Security Benefits

436

(1)

Problems with Social Security

436

(1)

There Will Always Be a Problem with Social Security

436

(2)

Consumer Issue 19: How to Meet Your Insurance Needs

438

(7)

Unit 6 Looking to the Future

445

(56)

Your Retirement Years

446

(21)

Planning for Your Retirement Years

447

(2)

The Importance of Financial Planning

447

(1)

Developing Other Interests

448

(1)

Staying Active

448

(1)

The Disposition of Your Property

449

(5)

What Is a Will and Why Should You Have One?

449

(1)

Limitations on Disposition of Property by Will

450

(1)

A Will Disposes of Only Certain Property

450

(1)

What Is Probate?

450

(1)

The Cost of Probate

451

(1)

Simplified Settlement Procedures

451

(1)

Joint Ownership

451

(1)

Joint Tenancy versus Tenancy in Common

452

(1)

Tenancy by the Entirety

452

(1)

Trusts

452

(1)

Life-Insurance Trust

453

(1)

Funded Trust

453

(1)

Testamentary Trust

453

(1)

Living Trust

453

(1)

Informal Bank Trust

453

(1)

Children's Trust

453

(1)

The Cyber Consumer---Searching for Will Preparation Advice Online

454

(1)

The Taxation of Wealth

454

(2)

Estate-and Gift-Tax Provisions

455

(1)

Marital Deduction

455

(1)

Annual Gift-Tax Exclusion

455

(1)

State Inheritance and Estate Taxes

455

(1)

The Pick-up Tax

456

(1)

What if You Become Incapacitated?

456

(1)

Durable Power of Attorney

456

(1)

Health-Care Power of Attorney

456

(1)

Living Wills

457

(1)

A Work about Organ Donation

457

(2)

Consumer Issue 20: How to Make Out Your Will and Plan for Your Funeral

459

(8)

Environmentally Responsible Consumer Behavior

467

(18)

Scope of the Problem

468

(1)

Dangers at Home

468

(1)

Dangers at School and in the Workplace

469

(1)

Consumer-Created Pollution

469

(2)

Diaper Debate

470

(1)

Tradeoffs between Vehicle Size and Safety

470

Problems with Packaging

(401)

Economic Causes of Pollution

471

(1)

Environmental Legislation

471

(3)

Environmental Protection Agency

471

(1)

Clean Air Act of 1990

472

(1)

State and Local Government Efforts

473

(1)

California's Car Emission Standards

473

(1)

New York's Solid Waste Disposal and Recycling Regulations

474

(1)

Who Pays the Cost of Environmental Protection?

474

(2)

Environmental Cleanups

475

(1)

``Not in My Backyard''

475

(1)

Environment as a Global Concern

476

(2)

Damage to the Ozone Layer

476

(1)

Greenhouse Effect

477

(1)

Consumer Closeup---Teaching Environmental Responsibility

478

(1)

The Cyber Consumer---Global Warming Information Online

479

(1)

Consumer Issue 21: Costs and Benefits of Living a ``Green'' Life

480

(5)

Consumers in a Changing World

485

(16)

What the Future May Hold

487

(1)

Globalization of the World's Economy

487

(3)

Benefits of Trade

488

(1)

Costs of Trade

489

(1)

Being a Responsible Consumer in the Global Economy

489

(1)

The Cyber Consumer---Buying Imported Goods Online

490

(1)

Who's Watching You?

491

(2)

Privacy in the Workplace

492

(1)

Privacy and Your Health

492

(1)

Consumer Closeup---When Your Boss Reads Your E-Mail

493

(2)

Privacy and the Government

493

(2)

Ethical Choices and Medical Technology

495

(2)

A Closing Thought

497

(4)

Index

501

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Economic Issues for Consumers

Summary

Table of Contents

Supplemental Materials