Unit 4 Income & Education Vocab

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

• Wage

• Salary

• Earning Capacity

• Tax Deduction

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

• Wage

• Salary

• Earning Capacity

• Tax Deduction

Habits and character traits that indicate a person’s ability to interact with others and positively influence a workplace environment is called

• Hard Skills

• Salary

• Soft Skills

• Gig Economy

A job related technical skills that are developed through hands on learning and formal education that indicate a person’s ability to perform job related tasks is called

• Earning Capacity

• Gig Economy

• Hard Sills

• Soft Skills

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

• Wage

• Gross Pay

• Net Pay

• Salary

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

• Gross Pay

• Net Pay

• Salary

• Wage

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

• Gross Pay

• Salary

• Gig Economy

• 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?

• Wage

• Hard Skills

• Gig Economy

• Soft Skills

What is a sum of money you can subtract from your taxable income to pay less in income taxes each year?

• Proportional/Flat Tax

• Tax Deductions

• Progressive Tax

• Regressive Tax

What is a reimbursement from the government to a taxpayer because of overpaid taxes?

• Progressive Tax

• Tax Deduction

• Tax Refund

• Regressive Tax