2024 Personal Finance Final

Front

The total amount of money an employee earns before taxes and other deductions are taken out is called?

Back

Gross Pay

Front

The amount of money an employee receives (takes home) after deductions are taken out of their gross pay is called?

Back

Net Pay

Front

These are measurable physical and mental abilities that allow you to complete a job.

Back

Hard Skills

Front

If you can operate a machine or use a software program efficiently you would have what kind of skill?

Back

Hard Skills

Front

We talked in class about the more skills you have and can bring to your job will increase what?

Back

Salary

Front

Joe works at his job for 20 hours per week, he gets paid $20.00 per hour. How much is his Gross pay?

Back

$400.00

Front

What is Bill's Net Pay (take home) if he works 30 hours per week at $20 per hour with the following deductions: Income tax 10% is $60.00, Medicare tax 6.2% is $37.20, Social Security 1.45% is $8.70, Health Insurance 3% is $18.00?

Back

$476.10

Front

What kind of Economy does the United States have?

Back

Market Economy

Front

The alternating periods of growth and decline in the Economy is called?

Back

Business Cycle

Front

Who should you pay 1st in your budget?

Back

You