PFL UNIT 1 Review Part 2

Why would a worker take a job that pays less than another job?

• The total amount of money earned in benefits is less

• The total amount of money earned in benefits is more

• The intangible benefits are not exciting at a lower paying job

• The job is farther away from home so travel will be longer

What is a tradeoff?

• Giving up nothing for no one

• The next best opportunity

• Giving up something for something else

• Income

Why do wages or salaries vary among employees at the same job?

• Race and Gender

• Every job is the same

• Every job has different tasks

• Experience and skill

What is it called when the economy is declining for several months?

• Recession

• Credentials and location

• Industry and performance

• Tasks and experience

Which groups of people are harmed most by economic declines?

• Skilled and persuasive

• Healthcare and education

• Women and minorities

• Police and firefighters

Which jobs are likely to offer the most benefits?

• Private company

• Private charity

• For profit agency

• Government agency

If a job offers tuition assistance, it will help employees pay for what?

• Paying for gasoline

• Rental property

• College

• Company merchandise

What route should you follow if you want to spend 4 years at an educational institution?

• University

• Trade School

• Military

• Go straight to work

If you choose to stay in high school and earn a diploma, then what opportunity cost are you giving up?

• Taking classes

• Teacher recommendation letters

• Guidance counseling

• Working

Lowering your taxable income by contributing to retirement means that you

• Pay more taxes

• Pay less overall taxes

• Take home more money

• Ride public transportation for free