Economics

Front 1

(t/f)a person can not claim himself as an exeptions if they are claimed as a dependent on another person's tax return

Back 1

t

Front 2

when determining how much to be depoisited onto an emergency savings account, a person should save a minumium _____% of thier net income.

Back 2

5

Front 3

a yearly report of corporations

Back 3

annual report

Front 4

to write a date on a check that is weeks or months into the future

Back 4

post date

Front 5

economic study that focuses oth the choices and interactions of the indivuals

Back 5

microecomomics

Front 6

managed company that pools its investor's $ and buys lare variety of secruites

Back 6

mutual fund

Front 7

in case of a loss, this coverage pays today's cost for an item of simalar quality

Back 7

replacement value

Front 8

usually has the lowest interest rate

Back 8

regular savings acount

Front 9

the value of any alternative(s) not choosen when you make a trade-off

Back 9

opportunity costs

Front 10

broker type that *only* places buy or sell orders fro tthier clients

Back 10

discount brokers

Front 11

covers property or personal damage you cause to others

Back 11

liability

Front 12

3 characterists if the "perfect" investement account which were not characteristics of a perfect savings account

Back 12

tax benefits, growth that exceeds interest rates, low purchase price

Front 13

form reporting allowences, used to determine the amount of federal income to deduct income tax from an employees gross pay

Back 13

Form W-4

Front 14

a rise in the level of prices

Back 14

inflation

Front 15

money owed to others

Back 15

liabilites

Front 16

has a definate maturity date

Back 16

C.D.

Front 17

ecpnomic system in which both consumers and producers are free to engage in business and transactions w/ min. gov. interference

Back 17

free enterprise

Front 18

debt obligations of cor. of gov'ts

Back 18

bond\

Front 19

indivaully listing allowable deductions instead of using the standard deduction amount

Back 19

itemixing

Front 20

any transactions that the owner of the account has completed and has recorded in thier chech register but has not been processed by the bank @ the time the statement is issued

Back 20

outstanding

Front 21

the choosing of alternative caused by scarcity is called making a ____.

Back 21

trade-off

Front 22

the amount the bondholder will be paid @ maturity

Back 22

face value

Front 23

primary purpose of the IRS

Back 23

recieve and check some of the income taxes

Front 24

no guarantee of gain

Back 24

Money market

Front 25

the willingness and ablitity of consumers to purchase a prodcut @ a certain price

Back 25

demand

Front 26

debt obligations of business, used to raise money

Back 26

corporate bonds

Front 27

when your assets are less than your liabilites

Back 27

insovlent

Front 28

a check drawn against the bank's own funds, used to guarenentee payment

Back 28

cashiers check

Front 29

all activities releated to the production and distribution of goods and services in a geo. area are

Back 29

economy

Front 30

(t/f)an investor in amunicipal bonds does not have to pay federal income tax on the interest earned

Back 30

t

Front 31

(t/f)the lower the p.e.ratio, the better the investement

Back 31

t

Front 32

In a market economy every person is a

Back 32

consumer

Front 33

to spread the risks among many types of investements

Back 33

diverification

Front 34

type of tax that the % of income being taxed increases as the income level increases

Back 34

progressive

Front 35

(t/f)the shareholder of record date is the day that corportion pays a diviend

Back 35

f

Front 36

In a market economy,____ has the final say in what is produced and @ what price

Back 36

consumers

Front 37

a centralixed marketplace where brokers who represent investors meet to buy and sell

Back 37

stock(securities) exchange

Front 38

potentional losses that involve a person's income and standard of living

Back 38

personal risk

Front 39

the name for a shareholder's abllot, which allows he to transfer voting rights to someone else

Back 39

proxy

Front 40

pays benefits when you lose your job through no fault of your own

Back 40

unemployment compensation

Front 41

3 wyas an investor can earn money w/ a mutual fund

Back 41

dividends, capital gain, net asset value

Front 42

(t/f)the more allowences tou are able to claim on your Form W-4, the more federal tax will be with held from your growth pay

Back 42

F

Front 43

a computerized network of brokers who buy and sell securities of cor. that are not listed on an exchange

Back 43

NASDAQ

Front 44

another name for social security

Back 44

FICA

Front 45

(t/f)the more money a person nvests,the more a person should diversify

Back 45

t

Front 46

3 indicators of a persons ablaity to pay income tax

Back 46

filling status, income, allowances

Front 47

debt obligations of state and local gov'ts

Back 47

municipal bonds

Front 48

situation occuring where there is only one producer or supplier of a good or service

Back 48

monopoly

Front 49

a contract isued by an insurance company to pay you reg. income

Back 49

annunity

Front 50

4 types of S.S benefits

Back 50

health insurance, disablity, surviorship, old age/ retirement

Front 51

a mutual fund that does not charge a commission for buying/selling

Back 51

no-load

Front 52

economic study that focuses on the behavior and choices and interactions of whole economics

Back 52

macroeconomic

Front 53

borrowing money to buy stocks

Back 53

margin buying

Front 54

the social science that dels whith how socity allocates its limites resources amoungs its unlimited wnats and needs

Back 54

economic

Front 55

represents ownership in the corporation

Back 55

stock

Front 56

the amount the insured person will have to pay on some types of coverages before teh the insurance company will pay the remainder of the claim

Back 56

deuductible

Front 57

(t/f)paying the highest price for an item always means your getting the best quality

Back 57

f

Front 58

commonly known as the long tax form

Back 58

1040

Front 59

Economic condtion that exists when there are limited resources avalible to satisfy the unlimited wants and needs

Back 59

scarcity

Front 60

provided by finacial institions that reports taxable income earned for that year.

Back 60

1099-NT

Front 61

the total agreed upon salary or pay before deductions

Back 61

gross pay

Front 62

an examination of a tax return by the IRS

Back 62

audit

Front 63

pays benefits for on the job injuries

Back 63

workers' compensation

Front 64

who has the abablity to levy taxes on the people of the US

Back 64

house of Reps

Front 65

term meaning the amount of pay left after all deductions are subtracted from the gross pay

Back 65

net pay

Front 66

a demand for payment for a loss under the terms of the insurance policy

Back 66

claim

Front 67

allows eligible employees to take unpaid leave for certain family or medical reasons.

Back 67

Family and Medical Leave Act

Front 68

a suu[let to insurance providing additional protection limits and some risks previouly excluded

Back 68

umbrella

Front 69

3 conditions that must exist for a free enterprise system to work

Back 69

competion, purchasing power, informed consumers

Front 70

a person who calculates insurance premiums a pecialist on insurance statistics

Back 70

actuary

Front 71

the price @ which the quanity supplied equals the quanity demanded

Back 71

equilibrium price

Front 72

repairs to your car when involved in an accident

Back 72

collision

Front 73

Form reporting total wages earned and total income, social secrurity, and medicare taxes paid in a calender year.

Back 73

Form W-2

Front 74

(t/f) employees are required to match and submit gov. amounts that equal what is deducted from an employees pay check for FICA

Back 74

t

Front 75

(t/f)Being able to claim dependents will result in a higher # of allowences being recorded on an eomplyess's W-4 form

Back 75

true

Front 76

Status that allows for no federal income to be with held from a worker's paycheck

Back 76

exempt

Front 77

(t/f)the more exeptions a taxpayer claims, the more tax the taxpayer will pay

Back 77

f

Front 78

taxes that take smaller share of teh income as the income grows

Back 78

regressive

Front 79

Claiming zero allowences will result in $0 federal income tax being deducted from an employees paycheck

Back 79

f

Front 80

(t/f)taxpayers should not itemize unless thier deductions exceeded the standard deductions amount

Back 80

t

Front 81

a policy that protects only one's personal protection possesions while kept on property owned by someone else

Back 81

renters

Front 82

type of tax where the rate remains the same regardless of the ammount on which the tax is imposed

Back 82

proportional

Front 83

By what date must Wage and Tax Statements be mailed to all empoyees who worked during the past year?

Back 83

Jan. 31

Front 84

life insurnce that is protection only for a specific period of time and benfits are only paid @ the insureds death

Back 84

term life

Front 85

permanent life insurance plan that an amount of cash value accumlates as preminums are paid through out the insured entire life

Back 85

permanent life

Front 86

repairs damages to your car cause by something other than an accident

Back 86

comprehensive

Front 87

potential losses that accur b/c of mistakes, negligence, or errors in judgement

Back 87

liabiliy

Front 88

commonly known as the short form

Back 88

1040A