FinLit Unit 1 Exam Study Guide

Front

Communication is one of the most important hard skills in today's workplace. True or False?

Back

False

Front

The business cycle repeats every year, peaking during the Christmas shopping season.​

Back

False

Front

Regardless of the style used, a resume should always include personal information, education, and work experience.

Back

True

Front

Are all types of earned income subject to income taxes and Social Security taxes?

Back

True

Front

Employers are required by law to make contributions to employee retirement accounts.

Back

False

Front

Payments received for alimony and child support are forms of unearned income. True or False?

Back

True

Front

Sales tax is a progressive tax because it places a greater burden on higher-income people.

Back

False

Front

Employees are required to have money withheld from their paychecks for income tax, Social Security tax, and Medicare tax.

Back

True

Front

As inflation rises, the real purchasing power of each dollar falls.

Back

True

Front

Economizing and optimizing are two basic strategies for rational buying.

Back

True