Income.

What is one of the seven different ways to earn income?

What is an entrepreneur?

• a very rich man

• a person that puts money into financial plans, property, etc. with the expectation of receiving a profit

• a person who creates and runs their own business

• money taken by the government for public programs / projects

Which word fits the meaning "the total amount a worker earns before any deductions have been calculated" ?

• gross pay

• net pay

• entrepreneur

• tax

What is Tax?

• a measure of how much people can buy with their income

• money taken by the government for public programs / projects

• the money remaining from a paycheck after deductions

• the money that remains after one's expenses have all been paid

What is the FICA tax rate?

• 6.2%

• 5.8%

• 4.5%

• 1.45%

What is the Medicare tax rate?

• 4.2%

• 1.45%

• 4.5%

• 6.2%

What is Inflation?

• the lowering of prices overtime

• the rise of prices overtime

• money taken by the government for public programs / probjects

• how much people can buy with their income

Which word fits the meaning "how much people can buy with their income" ?

• inflation

• tax

• purchasing power

• discretionary income

What is Disposable Income (net pay) ?

• the money remaining from a paycheck after deductions

• the money that remains after one's expenses have all been paid

• money taken by the government for public programs / projects

• the total amount a worker earns before any deductions have been calculated

Which word fits the meaning "the money that remains after one's expenses have all been paid" ?

• discretionary income

• purchasing power

• disposable income

• tax