Unit 3: Income & Education Vocab

What is the payment in exchange for one hour of work, typically paid out each week or every two weeks?

• Wage

• Salary

• Gross Pay

• Net Pay

What is a payment in exchange for a year's worth of work, typically paid out monthly?

• Wage

• Salary

• Net Pay

• Gross Pay

What are job-related technical skills that are developed through hands-on learning and formal education, indicating a person's ability to perform job-related tasks?

• Earning Capacity

• Hard Skills

• Soft Skills

• Gig Economy

What are the habits and character traits that indicate a person's ability to interact with others and positively influence a workplace environment?

• Soft Skills

• Hard Skills

• Gig Economy

• Earning Capacity

What is the income before taxes, benefits, and other payroll deductions are withheld?

• Gross Pay

• Net Pay

• Salary

• Wage

What is left of your paycheck after all necessary deductions and taxes have been made?

• Wage

• Salary

• Gross Pay

• Net Pay

What is the amount of money a person can reasonably expect to make considering their education level and employment?

• Net Pay

• Gross Pay

• Salary

• Earning Capacity

What is a segment of the service industry that provides temporary, flexible, short-term freelance work, typically facilitated through an app or online platform?

• Subsidized Loan

• Gig Economy

• Tax Refund

• Unsubsidized Loan

What is the sum of money that can be subtracted from your taxable income to pay less in income taxes each year?

• Tax Deduction

• Net Pay

• Tax Refund

• Gross Pay

What is a tax structure where the amount of taxes owed increases as income increases?

• Regressive Tax

• Proportional Tax

• Progressive Tax

• Tax Deduction