Chapter 2 Quiz

Who sets the minimum wage?
The U.S. Congress
Federal Reserve
The IRS
Your Insurance Comapny
Different states can have different minimum wages.
True
False
Overtime Pay gives an extra 1.5 times to a regular salary. If someone earns $13 an hour and works 40 regular hours a week, how much would they receive total if they worked 6 hours overtime within one work week?
$620
$458
$567
$637
Overtime Pay can not be higher than 1.5 times regular pay.
False
True
What are three benefits you may receive from your job?
Tips
Wages
Cafeteria Style Benefits
Salary
Insurance
Paid Vacation
What is an example of a retirement plan?
401K Plan
KLK
AEU
Your Salary
What are the standard hours in a workweek in an American workplace?
40 Hours
20 Hours
30 Hours
33 Hours
What is an example of unearned income?
Stocks
Commissions
Salary
Tips
What is the the total salary or wages earned during a pay period?
Gross Pay
Net Worth
Median Pay
Net Pay
What is personal leave?
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