Income

Front

What is the total number of days in a normal year?

Back

365 days.

Front

True or False: Federal law requires employers to pay workers a minimum wage.

Back

True.

Tags

CCSS.RI.11-12.3

CCSS.RI.11-12.5

CCSS.RI.8.3

CCSS.RI.9-10.3

CCSS.RI.9-10.5

Front

What is Normal Pay?

Back

1.0 x normal rate.

Tags

CCSS.6.RP.A.3B

Front

What does 'Time and a half' pay mean?

Back

1.5 x normal rate.

Tags

CCSS.7.EE.B.3

Front

How many weeks are there in a year?

Back

52 weeks.

Tags

CCSS.4.MD.A.1

Front

What is the definition of minimum wage?

Back

The lowest legal hourly pay that can be paid to workers.

Tags

CCSS.RI.11-12.5

CCSS.RI.6.5

CCSS.RI.7.5

CCSS.RI.8.5

CCSS.RI.9-10.5

Front

What is overtime pay?

Back

Pay for hours worked beyond the standard workweek, typically at a higher rate.

Front

What is the formula for calculating annual income?

Back

Annual Income = Hourly Wage x Hours Worked per Week x Weeks Worked per Year.

Tags

CCSS.6.RP.A.3B

Front

What is the difference between gross income and net income?

Back

Gross income is total earnings before deductions; net income is what remains after deductions.

Front

What is a paycheck?

Back

A document that an employer gives to an employee as payment for work done.

Tags

CCSS.RI.11-12.4

CCSS.RI.7.4

CCSS.RI.8.4

CCSS.RI.9-10.4

CCSS.RI.9-10.4