Unit 2 Review - Cost of Living and Budget

True or False? Working for 8 hours and 15 minutes is the same as working 8.15 hours.

• True

• False

A home alarm installer worked 32 hours a week for half a year. If his hourly wage was $35, how much did he earn during this time period?

• $560

• $1,120

• $29,120

• $58,240

What is the hourly wage corresponding to the graph shown?

• $7.00

• $8.75

• $10.50

• $13.50

If you earn $12 an hour and you work 40 hours a week, how much do you earn a month?

If an employer covers $15 of a $25 monthly life insurance premium, what is the total value of the benefit each year?

• $25

• $300

• $15

• $180

What is the annual value of a 401(k) plan in which the employer agrees to match 2.5% up to $15,000 if the employee contributes $15,000?

• $375

• $15,000

• $15,375

• $3,750

What is the true hourly wage of a job that pays $17 per hour and allows 10 hours of paid time off for every 200 hours worked?

• $17

• $17.85

• $170

• $17.58

An assembly technician has weekends off and has 15 paid vacation days per year, including holidays that fall on weekdays. If her salary is $63,700 per year, what is her pay per workday?

• $182

• $245

• $260

• $350

A tailor working 8 hours a day must make $12 an hour to cover her expenses. Suppose she makes $7 per piece that she works on. How many pieces must she make each day (8 hours) to reach her goal?

• 12

• 13

• 14

• 15

You are debating whether to take an hourly job at an ice cream shop that pays $7 an hour or one at an ice cream cone factory that pays a piece rate of $0.25 per cone. You find out from some workers at the factory that most people there can make about 30 cones in an hour. If you work the same number of hours at each job, which job will probably make you more money?

• The ice cream shop job.

• The ice cream cone factory job.