Personal Finance Weeks 5-6 (Taxes)

Personal Finance Weeks 5-6 (Taxes)

8th Grade

18 Qs

quiz-placeholder

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Personal Finance Weeks 5-6 (Taxes)

Personal Finance Weeks 5-6 (Taxes)

Assessment

Quiz

Business

8th Grade

Practice Problem

Medium

Created by

TYLER BARNA

Used 4+ times

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18 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Most federal taxes are put toward programs that provide benefits to retirees, the disabled, and children.

True

False

2.

MULTIPLE SELECT QUESTION

45 sec • 1 pt

FICA taxes fund... (Choose 2)

Medicare

Medicaid

Social Security

CHIP (Children's Health Insurance Program)

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

For most people, the largest payroll tax payment is...

federal tax

state tax

city tax

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Nebraska has a state income tax.

True

False

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is higher - gross pay or net pay?

Gross Pay - this is pay before taxes are taken out.

Gross Pay - this is the pay after taxes are taken out.

Net pay - this is the pay before taxes are taken out.

Net pay - this is the pay after taxes are taken out.

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A progressive tax...

Taxes higher earning people more

Taxes lower earning people more

Taxes everyone the same dollar amount

Taxes everyone at the same percentage rate.

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A regressive tax...

Taxes higher earning people more

Taxes lower earning people more

Taxes everyone the same dollar amount

Taxes everyone at the same percentage rate.

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