Money Matter Ch 2 Review

True or False: All states have the same minimum wage rate.

• True

• False

True or False: Employers with more than 50 employees are required by law to offer health insurance to their employees.

• True

• False

True or False: Employee benefits do not increase disposable income.

• True

• False

True or False: By law, overtime is generally 1 1/2 times the regular rate of pay.

• True

• False

True or False: To qualify for employer reimbursement for education expenses, the employee often has to agree to work for the company for a set period of time.

• True

• False

True or False: Tips are not subject to federal or state income taxes.

• True

• False

True or False: Capital gain is income from the sale of stock for more than you paid for it.

• True

• False

True or False: Gambling winnings are a form of earned income and therefore are subject to income tax.

• True

• False

True or False: Self-employment income is a form of unearned income.

• True

• False

True or False: Sales tax is an example of a progressive tax.

• True

• False