income you earn after taxes / deductions are taken out

net pay and take home pay are correct

helps schools determine how much financial aid you receive

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Fin Lit Unit 1

21 termsStudBud Administration159 plays

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Questions 21

Answers

1
which is NOT a typical deduction on an earning statement
health insurance
unemployment insurance
social security tax
state income tax
2
the income you earned before taxes and deductions are taken out
gross pay
take home pay
grusome pay
net pay
3
income you earn after taxes / deductions are taken out
none of the answers are correct
net pay and take home pay are correct
net pay
take home pay
4
college sticker price includes
books / other fees
all of the above
room and meals
tuition
5
How much more per week does a college grad earn compared to someone with some college?
$435
$50
$157
$10
6
which is spelled correctly
Entrepenuership
entrepreneurship
Entreprenureschip
entepenureship
7
All of the following are sources of income EXCEPT...
Retirement (401K)
Welfare
Stocks
Loans
8
value of next highest valued alternative
opportunity cost
opportunity corridor
operational costs
oppositional caste
9
which of these would NOT influence a person's income
innate skills
eye color
economic market conditions
knowledge/education
10
on business cycle, you expect GDP growth to be highest at.....
recovery
trough
recession
peak
11
an external incentive to work hard
personal satisfaction
moral character
pay raise
work ethic
12
True or False: Students must make payments on their student loans while attending school
False
True
13
Economics is the study of...
Businesses
Financial Literacy
Money
Scarce resources
14
why do people face tradeoffs?
tradeoff defiance
opportunity costs
limitless
scarcity
15
which includes characteristics of entrepreneurship
assumes most of the risk
enjoys most of the rewards
all of the above
creates new business
16
What is the main source of income for most Americans?
Bonds
Paycheck
Loans
Stocks
17
on business cycle, you expect unemployment to be highest at...
expansion
trough
peak
recovery
18
FAFSA
helps schools determine how much financial aid you receive
is the Federal Govt. telling you how much to pay for school
determines if you qualify for admission into a certain school
determines your eligibility to attend a certain school
19
for most middle class families, the largest deduction from pay check is....
State Income Taxes
Fed. Income Taxes
FICA
Social Security
20
opportunity cost of going to college might be
earning income now
better education
getting a degree
higher salaries in future
21
limited availabilty of a good or resource
scary
scarcity
sanctity
scared city

Fin Lit Unit 1 Flashcards | StudBud

Fin Lit Unit 1

21 termsStudBud Administration159 plays

Imported from external platform

Flashcards21 cardsFPractice quizPHost liveL

Questions 21

Answers

1
which is NOT a typical deduction on an earning statement
health insurance
unemployment insurance
social security tax
state income tax
2
the income you earned before taxes and deductions are taken out
gross pay
take home pay
grusome pay
net pay
3
income you earn after taxes / deductions are taken out
none of the answers are correct
net pay and take home pay are correct
net pay
take home pay
4
college sticker price includes
books / other fees
all of the above
room and meals
tuition
5
How much more per week does a college grad earn compared to someone with some college?
$435
$50
$157
$10
6
which is spelled correctly
Entrepenuership
entrepreneurship
Entreprenureschip
entepenureship
7
All of the following are sources of income EXCEPT...
Retirement (401K)
Welfare
Stocks
Loans
8
value of next highest valued alternative
opportunity cost
opportunity corridor
operational costs
oppositional caste
9
which of these would NOT influence a person's income
innate skills
eye color
economic market conditions
knowledge/education
10
on business cycle, you expect GDP growth to be highest at.....
recovery
trough
recession
peak
11
an external incentive to work hard
personal satisfaction
moral character
pay raise
work ethic
12
True or False: Students must make payments on their student loans while attending school
False
True
13
Economics is the study of...
Businesses
Financial Literacy
Money
Scarce resources
14
why do people face tradeoffs?
tradeoff defiance
opportunity costs
limitless
scarcity
15
which includes characteristics of entrepreneurship
assumes most of the risk
enjoys most of the rewards
all of the above
creates new business
16
What is the main source of income for most Americans?
Bonds
Paycheck
Loans
Stocks
17
on business cycle, you expect unemployment to be highest at...
expansion
trough
peak
recovery
18
FAFSA
helps schools determine how much financial aid you receive
is the Federal Govt. telling you how much to pay for school
determines if you qualify for admission into a certain school
determines your eligibility to attend a certain school
19
for most middle class families, the largest deduction from pay check is....
State Income Taxes
Fed. Income Taxes
FICA
Social Security
20
opportunity cost of going to college might be
earning income now
better education
getting a degree
higher salaries in future
21
limited availabilty of a good or resource
scary
scarcity
sanctity
scared city