Economics Questions

True or False: because the multiplier effect has a large impact on the money supply, it is more widely used as a tool for monetary policy than open market operations.

True or False: because their interest payments are exempt from taxation, interest rates on municipal bonds can be lower than US Treasury rates.

True or False: certificates of deposit can be sold on secondary markets.

True or False: money market instruments are generally low-risk investments, largely because their duration is higher than other debt instruments.

Which is TRUE if you do not pay your taxes?You're more likely to be approved for low interest loansYou cannot go to jail (but you will be heavily fined)You owe twice as much the following yearYour credit score may be impacted

If you owe taxes, which of the following is FALSE?You can make a payment using cashWith an agreement, you can pay it in installmentsYou can make a payment with a debit, but not credit cardYou can delay your payment deadline

Earned income is any money you make from things like interest and dividends.True False

True or False: All wages, tips, and bonuses are taxable unless specifically excluded.True false

Luisa earned $1,200 at her part-time job, and $500 from babysitting in cash. Which is TRUE?She will report her total income as $500.She will report her total income as $1,700.She will report her total income as $1,200.Luisa is required to file a tax return.

Each of the following things is true about the W-2 form EXCEPT...It lets you know how much was withheld from your paychecksIt contains information you'll need to fill out a 1040You get 1 W-2 form every year, even if you had multiple jobsIt lets you know how much you earned last year

By claiming "exempt" on the W-4 form.You are paying all income taxes at the END of the calendar year.You are paying all income taxes upfront at the START of the year.You are saying that you do NOT meet the minimum income requirements to fileYou are asking for a one year exemption from paying taxes

If a teen files a tax return, can the parent still claim him/her as a dependent?Yes, as long as the teen meets the dependency requirementsNo. If a teen files a tax return, he/she cannot be claimedYes. All teens are dependents until they are 18 years oldYes, but the parent has to add the teen's income to theirs

Jason is 15 and earned $1450 at his job last summer. Should he file a tax return?No, because you have to be 16 and older to file taxes.No, because he didn't earn enough.Yes, because he may get a refund.Yes. You must file taxes even if you didn't earn enough.

True or False: A teen's earned income can be reported on a parent's tax return.True False

Jason filed his 2023 tax return and owes money. If he doesn't want to pay a fee, when should he pay this amount by?October 15thDecember 31stApril 15thJanuary 1st of the next year

The W-4 form lets...the 3 major credit bureaus know how many dependents you haveyour employer know how much to withhold from your paycheckyou know how much you paid in taxes last yearthe government know how much you paid in taxes last year

Which of the following taxes is applied to wages, salaries, dividends, and interest earned?Excise TaxIncome TaxEstate TaxCorporate Income Tax

What item would you DEFINITELY see on a paystub?HealthcareYour occupation/roleRetirementGross Pay

Which of the following is NOT a way you can file your taxes?Mailing in a paper tax return to the Federal governmentThrough a tax professionalUsing tax software like TurboTaxThrough your employer's HR department

What do you need to file your 1040 form?Income of $50,000 or moreYour W-2Your prior year's tax returnYour W-4