EPF 1- Money

A negotiable instrument drawn against deposited funds, to pay money to a specific person

Sustained increase in the general price of goods & services in an economy over a period of time

A deduction allowed by law to reduce the amount of income that would otherwise be taxed

What is currency which derives its value from government regulation or law?

How often do you have to file a tax return and pay taxes?

System of transferring money from one bank account to another without papermoney changing hands

A sustained and severe decline in activity across the economy

a check in payment of wages or salary

U.S. money is backed by gold.

Your salary (pay) before any deductions are made

Allow consumers to withdraw or make a payment directly from a checking or savings account

A fee charged (levied) by a government on a product, income, or activity.

Money is borrowed from a business based on a pay stub with a very high rate of interest

Tax in which the tax rate increases as the taxable base (income) amount increases

Capacity to earn, knowledge, skills and level of education are

US money has value based on what?

What is the system of exchange where goods/ services are exchanged for other goods/ services?

What is money?

Electronic funds deposited directly into your bank account rather than through a paper check

Who is responsible for printing or minting U.S. Currency?

Store specific card that have a $ balance on it

Federal and State Taxes, Social Security, Medicare, Child Support, Garnishments

To whom do we pay taxes in the U.S.?

Your pay after deductions, such as taxes and retirement contributions, are made

Savings, 401K, life insurance, and health insurance

A general decline in prices, often caused by a reduction in the supply of money or credit

Non-wage compensation provided to employees in addition to their normal wages or salaries are

An order for payment of an amount of money, usually issued and payable at a bank or post office

Using methods other than cash to receive or make payments is

Issued by a financial institution, is preloaded with funds and is used like a credit card

Authorize the holder to buy goods or services with borrowed funds

A significant decline in activity across the economy, lasting longer than a few months

Employment, investments, self-employment, rental income, overtime pay, profits & windfalls are

What is a check drawn by a bank on its own funds and signed by its cashier

Benefits not deducted from pay such as vacation and sick days