Unit 7 Key Terms
Quiz by Teresa
Feel free to use or edit a copy
includes Teacher and Student dashboards
Measure skillsfrom any curriculum
Measure skills
from any curriculum
Tag the questions with any skills you have. Your dashboard will track each student's mastery of each skill.
With a free account, teachers can
- edit the questions
- save a copy for later
- start a class game
- automatically assign follow-up activities based on students’ scores
- assign as homework
- share a link with colleagues
- print as a bubble sheet
41 questions
Show answers
- Q1People are often paid minimum wage when they start a new job because they do not yet have the education or experience to command a higher wage rate.why are people often paid minimum wage when they start a new job?30s
- Q2Over time is extra pay when employees work overtime hours. Overtime pay must be at least 1.5 times the regular rate.what is overtime pay? how much is overtime pay compared to regular pay?30s
- Q3Being paid a salary is different from being paid hourly wages because they may have more flexibility in the times they work than do hourly workers.how is being paid a salary different from being paid hourly wages?30s
- Q4An example of a worker whose pay may include tips is a waiter.give an example of a worker whose pay may include tips30s
- Q5Some advantages of self-employment include getting to make the decisions about how the business will be run and having the freedom to set your own hours, deciding when you will work and how long you will work. Some disadvantages of self-employment include that if the business fails, the money invested in it is lost and it is very hard to get credit.what are some advantages of self-employment? what are some disadvantages?30s
- Q6They are important because the benefits increase the overall value a workers receives from a job and they have the effect of indirectly or directly increasing disposable incomeWhy are employee benefits important to employees?30s
- Q7Three examples of pay without work are paid vacations, holidays, and sick leave.give three examples of pay without work30s
- Q8Educational reimbursement is a valuable benefit for employees because they may be able to perform better using the skills learned and could improve chances of promotions or better jobs with the same company.why is educational reimbursement a valuable benefit for employees?30s
- Q9Employees are expected to help pay for health insurance because being able to participate in the company-offered group plan is a benefit in itself because group rates are typically lower than those for individual policies and acceptance into the program is guaranteed.why are employees at many companies expected to help pay for the cost pf health insurance?30s
- Q10A 401(k) retirement plan is an account into which employees contribute a portion of their earnings for their retirement. Pension plan retirements provide payments to retired workers.describe two types of retirement plans offered by companies30s
- Q11The Flex 125 Plan benefits employees because it allows employees to set aside money (pretax) to pay for qualified medical expenses.how does a health flexible spending (flex 125) account benefit employees?30s
- Q12A high-deductible plan will have a low monthly premium and HAS allow money to be contributed "pre-tax" so it translates to a savings of whatever % of a dollar is paid in taxes.why are high deductible health plans and HSAs popular?30s
- Q13Unearned income is money received from sources other than working in a job, either for you or for someone else.how is unearned income different from earned income?30s
- Q14See image-dividends30s
- Q15Three private sources of unearned income: -interestlist 3 private sources of unearned income30s