ECONOMICS UNIT 1

Read the sentence. Jennifer wants to use her tax refund to pay off her credit card balance. How much money would Jennifer receive if her withholdings and exemptions are 100 percent accurate?

$0

*LESSON 4*

*CREDIT*

LESSON 5

BUILDING AND PROTECTING

Which tax is the main source of revenue for the federal government?

income

Read the scenario. Jan has auto insurance with a $250 deductible. When she is in a hit-and-run accident, she learns that the repairs will cost $4,500. What will Jan's out-of-pocket expenses be?

$250

What is true about the risk and return of an investment?

Higher-risk investments offer the potential for a higger return

How does the government protect investors?

It oversees the buying and selling of securities so that consumers are not taken advantage of by businesses.

Which form is used by employers to withhold the proper amount of income tax from employees' paychecks?

W-4

Which questions are asked on the W-4 form? (Select all that apply.)

Whether you are single or married Whether you are dependent or independent Whether you are head of household

How is whole life insurance different from term life insurance?

Whole life insurance doesn't expire, whereas term life insurance does.