SY22-23_Financial Literacy_IA1

Net wages are:

• Money earned before taxes are taken out.

• Money earned after payroll deductions are taken out.

• Money that you literally grab with a net.

• Money that your employer keeps for the government.

A paystub is:

• A piece of paper that only shows how much you are being paid.

• A piece of paper that shows how much you are being paid and some taxes.

• A piece of paper that shows how much you are being paid, some taxes, gross wages, net wages, and other financial details.

• A piece of paper that shows how much you owe, some taxes, gross wages, net wages, and other financial information that is not important.

How many paychecks has he received this year

• 4

• 5

• 6

• 7

What are the amount of Year to Date Deductions on Bob's paycheck?

• $290.26

• $709.74

• $1451.29

• $1000.00

What is Bob's take home pay? (The actual amount on his check)

• $290.26

• $709.74

• $1451.29

• $1000.00

When Susie applied for a credit card she needed to know her ____________

• gross monthly income

• net monthly income

• wage income

• salary income

When Susie created a budget she needed to know her ____________

• gross monthly income

• net monthly income

• wage income

• salary income

Lilly who is 25years old has an opportunity to work for her friend making $32,000. She received a job offer from her local bank for $30,000 with full benefits. If Lilly is making the decision based on purely finances, which should she choose?

• Lilly should accept the job with the bank

• Lilly should accept the job with her friend

• There is not enough information for her to make a decision

• Both are so close in salary, it doesn't matter

Robin left $500 in  a savings account earning 1% interest. She could have invested the $500 in a S& P 500 account and earned 10% return. 

• The opportunity cost for Robin is 9%

• The opportunity cost for Robin is 1%

• The opportunity cost for Robin is 10%

• Robin does not have an opportunity cost

Capitalism is characterized by the following?

• Privately owned businesses

• Profits

• A Market Economy

• All of the Above