Social Security system

What is Tina's gross annual income (GAI)?

What are the 3 types of taxes? (You must select all 3!)

• Income Tax

• Property Tax

• Tea Tax

• Sales Tax

• Stamp Tax

The annual cost of your company's group medical insurance plan is $2500. If the company pays 72% of the annual cost, what % do you pay?

Federal, Social Security, and Medicare are all types of taxes.

• True

• False

An organized group that is determined to encourage or prevent changes in public policy.

• advocacy group

• special Interest group

• lobbying group

• pressure goup

• All of the above

You must pay tax to the IRS but your W-4 form lets you decide when to pay it. If you are single, working one job, and need every red cent to pay your bills, how many allowances should you claim?

• Zero

• One

• Two

Social Security is one example of how Americans have modified their free enterprise economy.

• True

• False

What is an example of a negative externality?

• Fewer Oil Rigs

• Industrial Pollution

• Less Toxic Waste

• Smaller buildings

What is the name of the federal health insurance program for senior citizens?

• Social Security

• Medicare

• Medicaid

• Social Care

In general, people do not want their economic system to create as many jobs as possible.

• True

• False