
Understanding Income and Tax Concepts

Interactive Video
•
Mathematics
•
9th - 10th Grade
•
Hard

Ethan Morris
FREE Resource
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10 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Why does the government impose taxes?
To fund public services like schools and roads
To control inflation
To discourage people from earning more
To increase the wealth of citizens
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the purpose of tax brackets?
To ensure everyone pays the same amount of tax
To simplify the tax filing process
To determine the tax rate based on income levels
To provide tax exemptions for all citizens
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
If you earn $30,028.80, which tax bracket do you fall into?
Above $80,000
Below $18,200
Between $18,201 and $37,000
Between $37,001 and $80,000
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
How much tax is paid for each dollar earned over $18,200?
10 cents
25 cents
19 cents
15 cents
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the first step in calculating tax payable using a spreadsheet?
Subtracting $18,200 from total income
Adding all income sources
Dividing income by 100
Multiplying income by 0.19
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the term for income after tax deductions?
Disposable income
Taxable income
Gross income
Net income
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
How do you calculate net income?
Subtract tax from total income
Divide total income by tax rate
Multiply total income by tax rate
Add tax to total income
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