Chapter 2 Quiz

What is minimum wage

• the lowest pay rate allowed

• What you receive after your boss takes out taxes

• Your salary plus commission

• Target

Par received for hours worked in addition to regular hours

• Minimum wage

• Overtime pay

• Gross Pay

• Net Pay

What is a set fee or percent paid to an employee instead of or addition to regular salary

• Gross pay

• Net Pay

• Parkview

• Commission

Money available to spend or save after taxes have been paid

• Disposable income

• Retirement

• Savings

• Chicken Salad Sandwich

Paid time away form work for personal reasons

• Overtime pay

• Sick leave

• FMLA leave

• Personal leave

An account into which employees voluntarily contribute a portion of their earnings for their retirement

• Retirement plan

• Health Savings Account

• Flexible Spending Account

• MSU Bears

Money received from sources other than working

• Gross pay

• allowance

• Interest

• Unearned Income

Money earned on savings accounts and other funds

• Investing Profit

• Return on Investment

• Interest

• Savings

A portion of a corporations profits distributed to stockholders

• Interest

• Stocks

• Bonds

• Dividends

a tax levied as a percentage of the purchase price of goods and services sold to consumers

• Use Tax

• Sales Tax

• Excise Tax

• Import Tax