Economics Final Review Unit 2

Question 1

What crime was this person (Martha Stewart) charged with?

Accepted Answer

Insider trading

Question 2

Loans specifically for real estate are known as

Accepted Answer

mortgages

Question 3

Which of the following forms would you have to fill out so your employer can withhold taxes?

Accepted Answer

W-4

Question 4

Income tax in the United States is what type of tax?

Accepted Answer

progressive

Question 5

What crime was the following person (Bernie Madoff) charged with?

Accepted Answer

Ponzi scheme

Question 6

Which of the following represents part "ownership" of a company?

Accepted Answer

stock

Question 7

What agency was created to prevent fraud in the financial sector/stock market?

Accepted Answer

Securities Exchange Commission (SEC)

Question 8

On a paycheck, which amount is higher?

Accepted Answer

gross pay

Question 9

Which of the following is considered a FICA deduction?

Accepted Answer

Social Security tax, Medicare tax

Question 10

Which of the following is the LEAST riskiest investment?

Accepted Answer

savings bond

Questions 10