What is the tax levied by a government directly on income, especially an annual tax on personal income?
Quest for Success Unit 6 Vocabulary - Part 2

Quiz
•
Michelle Newsom
•
Business
•
8th - 9th Grade
•
49 plays
•
Medium
12 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
sales tax
property tax
income tax
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The general increase in prices and fall in the purchasing value of money is ____________.
expense
social security
purchasing power
inflation
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
__________________ is the federal health insurance program for people who are 65 or older or certain younger people with disabilities.
Social Security
Medicare
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
______________ is the federal insurance program that provides benefits to retired people and those who are unemployed or disabled.
Medicare
Social Security
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is a requirement, necessary duty, or obligation?
need
want
expense
inflation
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
An individual's income after taking taxes and deductions into account is called ....
gross income
income tax
net income
fixed expense
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
__________ ___________ is gross wages minus withholdings for payroll taxes and other items such as insurance.
Cash flow
Social Security
Purchasing power
Net pay
8.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the loss of potential gain from other alternatives when one alternative is chosen?
fixed expense
opportunity cost
variable expense
gross income
9.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What type of tax is levied by the governing authority of the jurisdiction in which the property is located?
sales tax
property tax
income tax
10.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The financial ability to buy products and services is called _____________.
budget
cost comparison
fixed expense
purchasing power
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