Unit 4: Income and Education

A person’s natural, physical, and mental talents for learning.

• Ability

• Aptitude

• Interests

• Habit

What factors are important when considering whether or not to attend college?

• Location and campus facilities

• Tuition and fees

• Academic programs and reputation

• All of the above

What does the acronym FAFSA mean?

• Financial Application for Free Student Assistance

• Free Application for Federal Student Aid

• Free Assistance for Fast Student Approval

• Formal Application for Federal Student Assistance

Does it cost money to file the FAFSA?

• Yes

• No

• Only if you fill it out after January 1st

• Only if your college requires a fee

True or False? Males between the ages of 18-25 must be registered for the Selective Service (draft) in order to complete the FAFSA.

• True

• False

Gross income is:

• the total amount of money you earn

• the amount of money you receive after decuctions are subtracted

• the total amount of money you spend

• sales taxes on items you buy

Net income is:

• the total amount of money you earn

• the amount of money you receive after deductions are subtracted from your gross income

• the amount of money that is taken away in the form of taxes

• the hourly rate of pay

Net Income is?

• After Tax

• Before Tax

• Sales Tax

• Property Tax

What is the greatest source of revenue for the federal government?

• Income Tax

• Excise Tax

• Sales Tax

• Property Tax

What is the greatest source of revenue for a city/town?

• Income Tax

• Excise Tax

• Sales Tax

• Property Class