Unit 1 Personal Finance

Front

Which economic concepts best represent: employment opportunities; renting vs. buying a home; selecting a home mortgage; and buying an automobile?

Back

Major life choices

Front

The HOPE scholarship, loans, grants, and work-study programs can be used to:

Back

Pay for cost associated with college

Front

On a paystub, which term represents the total amount of income provided by an employer for a time period?

Back

Gross pay

Front

Which of the following best represents the letter C in the graphic organizer? Options: Income earned from stocks, can fall or rise based on economy; Income based on contracts, paid at completion of job; The amount of money left after all deductions are taken out, take-home pay; The amount of money given to the IRS for this pay period

Back

The amount of money given to the IRS for this pay period

Front

On a paystub, which term represents money given to the Federal Government for Social Security?

Back

FICA

Front

When completing a personal budget, paying for gas and groceries would be an example of which of the following? Fixed expense, Variable expense, Planned expense, Unplanned expense

Back

Variable expense

Front

Which function of money allows people to use coins or currency to make purchases?

Back

Medium of exchange

Front

Which financial institution provides services like Direct deposit, Check-writing services, Debit and credit cards?

Back

Bank

Front

Which financial institution makes loans based on an individual's collateral, provides short-term loans to individuals, and has fees usually higher than those a bank would charge?

Back

Payday Loan Company

Front

Which of the following is a taxation (tax) on the value of buildings, land or homes?
Options: Property tax, Excise tax, Sales tax, Income tax

Back

Property tax