NEW
Font size
WorksheetsFinance Chapter 6
Total questions: 22
Worksheet time: 2hrs 50mins
The total amount you earn before any deductions are subtracted
Gross pay
Net pay
Take home pay
Amounts subtracted from your gross pay
Deductions
Net pay
Incentive pay
Overtime
The amount left after all deductions are taken out of your gross pay
Net pay
Gross pay
Incentive pay
Time worked beyond the regular hours (over 40 hours)
Overtime
Time and a half
Deductions
Job sharing
The total Social Security and Medicare tax, including employer-matching contributions, paid by people who work for themselves
Income tax
Self-employment tax
Labor union
Collective bargaining
Money offered to encourage employees to strive for higher levels of performance
Incentive pay
Gross pay
Net pay
Entitled to full retirement account
Vested
Lobbying
Seniority
A work schedule that allows employees to choose their working hours within defined limits
Flextime
Compressed workweek
Job sharing
Job rotation
A work schedule that fits the normal 40-hour workweek into less than five days
Flextime
Compressed workweek
Job sharing
Job rotation
A job design in which employees are trained to do more than one specialized task
Flextime
Compressed workweek
Job sharing
Job rotation
A job design in which two people share one full-time position
Flextime
Compressed workweek
Job sharing
Job rotation
A group of people who work in the same or similar occupations, organized for the benefit of all employees in these occupations
Collective bargainers
Labor union
Lobbyist
The process of negotiating a work contract for union members
Collective bargaining
Labor union
Lobbying
The length of time on the job
Seniority
Vested
Lobbying
Incentives
An attempt to influence public officials to pass laws and make decisions that benefit the profession
Collective bargaining
Labor unioning
Lobbying
If the regular rate of pay is $5 an hour, the overtime rate (time and a half) is $10 an hour.
True
False
Some types of deductions may be withheld from your paycheck without your written consent.
True
False
Employee services are offered by companies to improve morale and working conditions.
True
False
Lobbying is a legal activity engaged in by many unions and professional organizations.
True
False
Which of the following is not considered a required deduction
Federal income tax
Savings deposits
State tax
Social security tax
Teachers and police officers would belong to a(n) _____ union.
Craft
Industrial
Public-employee
Arbitration
The MAJOR function of labor unions is
Collecting dues
Conducting strikes
Collective bargaining
Having meetings
