PF Unit 2 - Vocab Quiz 1 Review

A social insurance program that gives health insurance to almost all Americans 65 and over.

• social security

• medicare

• payroll deduction

• net income

the amount an employee makes BEFORE deductions

• net income

• gross income

• tax

• payroll deduction

the amount an employee makes AFTER deductions

• net income

• gross income

• payroll deductions

• income tax

A government retirement program funded by taxes that all citizens are required to participate in

• medicare

• social security

• gross income

• payroll deduction

a required payment to the government from all citizens

• tax

• payroll deduction

• medicare

• property tax

$$ amount paid on cars, boats, RVs, ATVs, that people own

• personal property tax

• real estate tax

• sales tax

• income tax

An additional amount paid on all retail items

• sales tax

• property tax

• income tax

• payroll deduction

A percentage of your EARNINGS paid to the government

• income tax

• sales tax

• net income

• tax

An amount withheld by the employer from an employee's paycheck for taxes and charities.

• real estate tax

• property tax

• income tax

• payroll deduction

$$ amount paid on homes, condominiums, commercial buildings, and factories that people own

• personal property tax

• real estate tax

• income tax

• net income