Answers26-27 Ignite Financial Literacy Personal Finance - EL3403Careers, Salaries, and Lifetime Income

Careers, Salaries, and Lifetime Income Answers

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1
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What are some benefits of paying taxes? Check all that apply.Taxes ensure that the needs of the nation are fulfilled.Taxes pay for public works such as highways and museums.Taxes reduce the amount of money consumers can spend.Taxes slow growth in the economy.Taxes pay for government programs such as Medicare and Medicaid.

A
Taxes ensure that the needs of the nation are fulfilled.
B
Taxes pay for public works such as highways and museums.
C
Taxes reduce the amount of money consumers can spend.
D
Taxes slow growth in the economy.
E
Taxes pay for government programs such as Medicare and Medicaid.
2
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[___]

A
Ethan
B
Diamond
C
They will pay the same.
3

Amir would pay $60 in sales tax in [___].

A
Washington, DC
B
Virginia
C
Maryland
4

What is the best definition of "income tax”?

A
a tax on the purchase price of goods
B
a tax on the value of property
C
a tax on money earned
D
a tax set aside each month for health care
5

[___]

A
Ethan
B
Diamond
C
They will pay the same.
6

[___]

A
Ethan
B
Diamond
C
They will pay the same.
7

[___]

A
$0
B
$9,075
C
$80,000
8

To spend the least amount total, Amir should buy the computer in [___].

A
Washington, DC
B
Virginia
C
Maryland
9

How much will Noah and Olivia be required to pay in property tax per year?

A
$15
B
$150
C
$1,500
D
$15,000
10

[___]

A
Ethan
B
Diamond
C
They will pay the same.
11

[___]

A
$0
B
$36,900
C
$80,000
12

Amir would pay the most sales tax in [___].

A
Washington, DC
B
Virginia
C
Maryland

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