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WorksheetsCareers and Income
Total questions: 10
Worksheet time: 11mins
Name
Class
Date
1.
Human capital includes which of the following?
a)
The knowledge that people possess.
b)
The talent that people possess.
c)
The skills that people possess.
d)
All of the responses are correct.
2.
People invest in human capital by:
a)
trying out for sports teams
b)
going to school.
c)
pursuing additional training.
d)
going to school AND pursuing additional training
3.
Gross pay is:
a)
the amount earned over a lifetime.
b)
the amount earned before deductions or taxes are taken out.
c)
the amount received after deductions and taxes have been taken out.
d)
computed by multiplying the number of hours by the hourly rate of pay, then subtracting federal and state income taxes.
4.
Net pay is:
a)
the amount earned over a lifetime.
b)
the amount earned before deductions or taxes are taken out.
c)
the amount received after deductions and taxes have been taken out.
d)
computed by multiplying the number of hours by the hourly rate of pay, then subtracting federal and state income taxes.
5.
FICA tax is a tax or required contribution resulting from the Federal Insurance Contributions Act
a)
True
b)
False
6.
Adam is working for an hourly wage of $15. If he worked 38 hours last week, what is his gross pay?
a)
$399
b)
$427.50
c)
$570
7.
Sam's take home pay is $743. His deductions are $25 for OASDI, $5 for Medicare and $27 for income tax. What is his gross pay?
a)
$800
b)
$743
c)
$686
d)
$57
8.
Which term means that you receive a fixed amount of pay for a job on a weekly, bi-weekly, or monthly basis?
a)
hourly wage
b)
minimum wage
c)
overtime
d)
salary
9.
Ann worked 45 hours this week. Her hourly rate is $10 per hour. She earns time and a half for every hour over 40 that she works in a week. What is her gross pay?
a)
$400
b)
$475
c)
$450
d)
$675
10.
Life insurance is a deduction that is required by law.
a)
True
b)
False
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