Taxes, Insurance, and Basic Econ
Authored by Jay Winkler
Business
6th - 8th Grade
Used 14+ times
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22 questions
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1.
MULTIPLE CHOICE QUESTION
10 mins • 1 pt
You pay $100 per month in homeowner's insurance for a year (12 months). At the end of the year, someone breaks into your house and steals your $2000 TV. Your insurance covers this. Was the year of insurance worth it?
Yes
No
2.
MULTIPLE CHOICE QUESTION
10 mins • 1 pt
Sales tax in Kentucky is 6%. How much sales tax does this mean you pay on each dollar you spend?
6 cents
60 cents
600 cents
16 cents
3.
MULTIPLE CHOICE QUESTION
10 mins • 1 pt
Who takes income tax out of your paycheck?
Federal government
State government
Local government
All three levels of government
4.
MULTIPLE CHOICE QUESTION
10 mins • 1 pt
Businesses that don't make a profit still have to pay corporate taxes.
True
False
5.
MULTIPLE CHOICE QUESTION
10 mins • 1 pt
Social security is a tax that also comes out of your paycheck.
True
False
6.
MULTIPLE CHOICE QUESTION
10 mins • 1 pt
The more of a good there is, AKA a higher supply, the more people will pay for it.
True
False
7.
MULTIPLE CHOICE QUESTION
10 mins • 1 pt
The more demand consumers have for a product, the more of it they will purchase.
True
False
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