1) money paid to the government when something is purchased a) sales tax b) payroll tax c) income tax d) Property tax  2) money paid each year for home or land that increases or decreases based on the value of the home or land. money paid to the government when something is purchased a) sales tax b) payroll tax c) income tax d) property tax  3) money paid on the money you earn a) sales tax b) payroll tax c) income tax d) property tax  4) An employer takes money out of a worker's paycheck and pays it to the government a) sales tax b) payroll tax c) income tax d) property tax  5) Social Security and Medicare are types of _______________________ tax that an employer withholds from their employees. a) sales tax b) payroll tax c) income tax d) property tax  6) A tax that the government collects from personal earned money is called a(n) ________________. a) sales tax b) payroll tax c) income tax d) property tax  7) A tax on goods or services paid to state and city government is called a __________________ tax. a) sales tax b) payroll tax c) income tax d) property tax  8) Owners of houses or other types of real estate are required to pay ___________________ taxes every year. a) sales tax b) payroll tax c) income tax d) property tax  9) The total amount of money you earn a) gross income b) net income 10) The amount of money you receive after deductions are subtracted from the money you earn a) gross income b) net income 11) To put money in your account a) deposit b) withdraw c) loan 12)  Sarah has her first job at the local bakery. After working for one week, she received her first paycheck. The total amount of money she is able to put in the bank is $75.62. What type of income does this amount describe? a) Net income b) Gross income 13) Julie worked 30 hours this week at the rate of $9 per hour. Which statement is true? a) Her gross income is less than $270. b) Her gross income is $270 c) Her net income is $270. d) Her net income is more than $270. 14) The amount of money a person actually earns before taxes are taken out of the pay is called ____________________. a) gross income b) net income

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