What is a progressive tax system?

A tax system where higher-income earners pay a higher percentage of their income.

Why is a progressive tax system considered 'fair' by some economists?

It places a higher burden on those who can afford it

What is Social Security primarily designed to provide?

Retirement, disability, and survivor benefits

Which of the following workers does not pay into Social Security? Self-employed individuals, Federal government employees hired before 1984, Part-time workers earning above the minimum threshold, Independent contractors

Federal government employees hired before 1984

What does “FICA” stand for on a paystub?

Federal Insurance Contributions Act

What does 'YTD' usually indicate on a paystub?

Year-to-Date totals for earnings and deductions

An employer-sponsored retirement savings plan

What is the primary purpose of a savings account?

Keeping money secure and earning interest

What is an investment “yield”?

The percentage return earned on an investment

What does “diversification” in investing mean?

Spreading investments across different types of assets to reduce risk

What is a “mutual fund”?

A collection of investments pooled together from multiple investors

What does a “bond” represent?

A loan made by an investor to a government or corporation

What is a “Roth IRA”?

A retirement account with tax-free withdrawals in retirement.

What is the primary benefit of a high-yield savings account?

Guaranteed returns with high-interest rates compared to standard savings accounts

What does "confidentiality" mean in the workplace?

Keeping private information secure and only sharing it with authorized individuals

Demonstrating honesty, reliability, and moral principles

What does "accountability" mean?

Taking responsibility for one's actions and decisions

What is "conflict of interest"?

When personal interests clash with professional duties

What is “professionalism”?

Demonstrating respect, competence, and a positive work ethic

What does "whistleblowing" mean?

Reporting unethical or illegal behavior within an organization

What is "plagiarism" in the workplace?

Taking credit for someone else’s work or ideas without permission

What does "equity" mean in workplace ethics?

Ensuring fairness and providing resources based on individual needs

What is meant by "transparency"?

Open and honest communication about policies, practices, and decisions

What is “cybersecurity”?

Protecting systems, networks, and data from cyberattacks

What is “automation” in the workplace?

Using technology to perform tasks with minimal human intervention

What is “data encryption”?

Converting data into a secure format to protect it from unauthorized access.

Why is checking your credit report important?

To monitor for inaccuracies or signs of identity theft

What is "tuition" in the context of college?

The fee paid to attend classes at a college or university

What is a master's degree?

A degree earned after completing a bachelor’s degree, typically in a specialized field.

Goal Setting and Well-Being Flashcard Flashcards

Student preview

44 questions

Show all answers

1.

FLASHCARD QUESTION

Front

What is a short-term goal?

Back

a goal accomplished in less than one year

2.

FLASHCARD QUESTION

Front

What is a long-term goal?

Back

a goal accomplished in more than one year

3.

FLASHCARD QUESTION

Front

What is an occupation?

Back

a wide category of jobs with similar characteristics

4.

FLASHCARD QUESTION

Front

What is an appropriate way to make money? Options: hack accounts, rob people, work hard, print money

Back

work hard

5.

FLASHCARD QUESTION

Front

Which is NOT an example of a need? food, shelter, concert tickets, money

Back

concert tickets

6.

FLASHCARD QUESTION

Front

Which of the following are all examples of wants? water, home, and shoes, school, vacation, and water, laptop, income, and electricity, candies, vacation, and gifts

Back

candies, vacation, and gifts

7.

FLASHCARD QUESTION

Front

What is the definition of well-being?

Back

overall state of being happy healthy, and prosperous

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