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A tax where poorer people pay a higher percentage of their income.
What is a regressive tax?
A graph that represents what is possible with current resources.
What is a PPC? (possibilities production curve)
A form you fill out to see if you are eligible for financial aid.
What is a FAFSA?
Free money to help someone with schooling.
What are grants?
Funds healthcare for elderly individuals.
What is Medicare?
What is labor supply?
The amount of money you can make over your lifetime. Getting a college degree can help increase this number.
What is long term earnings?
The income you make that you actually have to pay taxes on.
What is taxable income?
Jobs available to you. A college degree can also increase the amount of these.
What are job opportunities?
A cost you pay to lower your costs if you are in a car accident.
What is car insurance?
A cost you pay to cover your healthcare expenses when there is an emergency.
What is health insurance?
How much people want a good or service.
What is demand?
Profits paid to you if you own a share or stock in a company.
What are dividends?
The amount of money you are paid before deductions of taxes.
What is gross income?
Getting your school fees paid for
What is tuition reimbursement?
Funds healthcare for poor individuals.
What is Medicaid?
Money paid to you for working.
What are wages?
A plan to set aside money for when you are too old to work
What is a retirement plan?
Time off work that is paid for by your employer.
What is paid leave?
A tax where richer people pay a higher percentage of their income.
What is progressive taxation?
A tax you pay on a piece of property you own. It funds schools, state, and local governments.
What are property taxes?
Money you are paid while you are retired.
What are retirement benefits?
Money to help with expenses, but they must be paid back and usually require interest payments.
What are loans?
Money paid to a landlord for letting someone stay in their property.
What is rental income?
What you miss out on when you choose something. It is the next best choice.
What is an opportunity cost?