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Econ Unit 6: Week 1 Key Terms

Authored by Rachel Hammond

Social Studies

12th Grade

Used 8+ times

Econ Unit 6: Week 1 Key Terms
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10 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Deposits locked in for a specified time, earns interest, and has penalties for early withdrawal.

Savings account

Certificate of deposit

Money market account

Savings bond

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A percentage withheld from an employee’s pay to fund social insurance programs like Social Security, Medicare, and unemployment insurance.

Excise tax

Income tax

Property tax

Payroll tax

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Tax on immovable property like land and buildings.

Property tax

Payroll tax

Excise tax

Sales tax

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

 Total amount a worker receives when they cash or deposit their check after deductions.

Gross income

Net income

Income tax

Payroll tax

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Legal contract between tenant and landlord

Contract

Mortgage

Lease

Living agreement

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Tax on the retail sale of goods and services.

Property tax

Payroll tax

Income tax

Sales tax

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Total amount a worker is paid before any required or voluntary deductions are made.

Gross income

Net income

Payroll tax

Income tax

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