26 Jul WHICH RATE MOST LIKELY WOULD BE YOUR INCOME TAX RATE?
The amount of tax money spent Show more Question 1 5 pts To what does tax progressivity refer? (5 points) The amount of tax money spent on technology advancements The connection between income tax rate and spending The relation of tax rate to income The use of taxes for social programs Flag this Question Question 2 5 pts Annas job pays $10 per hour and she works 40 hours per week. Her tax rate is 20 percent. Assuming she works 50 weeks per year the amount she will pay in taxes is (5 points) $4000 $14000 $20000 $30000 Flag this Question Question 3 5 pts Imagine you live in a society with progressive taxation. Your friend makes half of your salary and pays 20 percent in income taxes. Which rate most likely would be your income tax rate? (5 points) 2 percent 10 percent 20 percent 40 percent Flag this Question Question 4 5 pts 2013 FLVS Look at the bar graph. What kind of tax is depicted here? (5 points) Flat Proportional Progressive Regressive Flag this Question Question 5 5 pts Which of these is an example of indirect tax? (5 points) Corporate income tax Gasoline tax Paycheck withholdings Property tax Flag this Question Question 6 5 pts 2013 FLVS Look at the graph. How does the tax shown differ from a proportional tax? (5 points) A progressive tax increases with income level; a proportional tax decreases with income level. A regressive tax decreases with income level; a proportional tax is the same percentage for everyone. A progressive tax increases with income level; a proportional tax is the same percentage for everyone. A regressive tax is the same percentage for everyone; a proportional tax increases with income level. Flag this Question Question 7 5 pts Which of these investments may pay dividends? (5 points) Bonds Savings accounts Certificates of deposit Stocks Flag this Question Question 8 5 pts FLVS 2013 Assume that the blue section (D) of the chart stands for stocks and the red (A) for mutual funds. This would most likely represent the portfolio of a (5 points) young investor middle-aged investor nearly-retired investor elderly investor Flag this Question Question 9 5 pts Which of the following investment plans best reflects diversification? (5 points) Ben has an investment portfolio with numerous stocks and futures. Kenya invests in stocks bonds and mutual funds. Jeremiah takes out a CD and keeps the rest of his money in a savings account. Molly splits her investment between mutual funds and a money market account. Flag this Question Question 10 5 pts Rudy is a 52-year-old freelance writer who wants a short-term low-risk investment with low liquidity. Which of these investment vehicles should he consider? (5 points) CD IRA Mutual fund Stocks Flag this Question Question 11 5 pts Hometown Bank Products Hometown Bank Products Hometown Bank Products Hometown Bank Products Minimum Opening Deposit Interest Paid per Year Monthly Fee Checking $100.00 0.00% $0.00 Savings $250.00 0.50% $0.00 Platinum Savings $1000.00 0.75% $10.00 CD (1year) $1000.00 1.05% $0.00 CD (5 year) $1000.00 1.80% $0.00 Money Market $1000.00 0.75% $10.00 Vesna has $1000 to invest and she will need to have her money available in the next six months. Which product will yield her the highest interest in her time frame with no monthly fee? (5 points) One-year CD Checking Platinum savings Savings Flag this Question Question 12 5 pts Which type of credit involves a set limit based on what a consumer pays up front? (5 points) Loans Installment credit Secured credit cards Unsecured credit cards Flag this Question Question 13 5 pts Milo has received several credit card offers. Which of the following features is the riskiest? (5 points) High credit limit Fixed interest Low credit limit Variable interest Flag this Question Question 14 5 pts Interest over Four Months: 2013 FLVS Amun has four credit cards each with a different interest rate. He charges $1000 to each card in January and does not pay down any of the cards for four months. Based on the data in the chart which two cards accrue the most amount of interest over time? (5 points) Credit 1 and Credit 3 Credit 1 and Credit 4 Credit 2 and Credit 3 Credit 2 and Credit 4 Flag this Question Question 15 5 pts Samuel needs to decrease his expenses. To which category should he make cuts first? (5 points) Entertainment Housing Transportation Utilities Flag this Question Question 16 5 pts Your friends job pays $5.00 per hour and he works 20 hours per week. His tax rate is 20 percent. Assuming he works 50 weeks of the year his yearly gross income is (5 points) $1000 $4000 $5000 $10000 Flag this Question Question 175 pts 2013 FLVS Gillian graphed her expenses in this pie chart to evaluate how she was spending her income. She would like to purchase health insurance and calculates that it will cost 10 percent of her income for a year to save for the premium. How could she best shift her expenses to save 10 percent? (5 points) Buy a fuel-efficient car Cut household electricity usage Eat out less often Reduce payments on her debt Flag this Question Question 18 5 pts Jonah has a high-paying job and would like to start saving for retirement. He has evaluated his budget in order to add savings to his expenses. He has a moderate amount of debt and he spends a great deal on housing. His utilities transportation and health expenses are fixed and he spends little on recreation or eating out. Which action is he most likely to take? (5 points) Consider less costly housing options Pay off his debt Reduce his recreation expenses Search for a job with a higher salary Flag this Question Question 19 5 pts Location Starting Salary Cost of Living (per person) Moving Costs Baltimore MD $51000 $22000 $1200 Cincinnati OH $42000 $19000 none Miami FL $42000 $22000 $1500 New York NY $49000 $26000 $1300 Constance will graduate within a year with her teaching certification. She has evaluated teaching jobs in four states. A teaching job in which city would result in the most disposable income in the first year? (5 points) Baltimore MD Cincinnati OH Miami FL New York NY Show less
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