Unit 2 Impacts on Income

Front

what is Human Capital?

Back

A worker's skill, knowledge, and experience

Front

Your parents pay a tax each year of $3500 that is based off the value of your home. Which type of tax do your parents pay each year?

Back

Property Tax

Front

Curtis purchased a new pair of jeans for $18. When Curtis pays for his jeans his total is almost $20 because of taxes. Which type of tax does Curtis pay?

Back

Sales Tax

Front

Which pathway would be best for Amy, who became bilingual after intensive language classes in high school, enjoys talking and helping others, and has very little interest in pursuing a post-secondary degree?

Back

She should find a job that needs translators.

Front

Employers have to withhold some of your wages or salary, so that you can collect Social Security and Medicare. What is this called?

Back

FICA Tax

Front

What is the opportunity cost of attending college for Humphery Flobart?

Back

The $25,000 he could have earned by working as a manager at Wendy's.

Front

What was the total amount withheld from Lily's pay for federal, state and local income tax?

Back

$ 1, 781.33

Front

What impact does human capital have on your income?

Back

Higher human capital generally results in higher income.